Privatisation of Public Sector Undertakings is not in national interest and the Tamil Nadu government would oppose the Centre's bid to privatise PSUs which are public assets, Chief Minister MK Stalin informed the State Assembly on Thursday.
The CM said that he will write to Prime Minister Narendra Modi to express his government's opposition.
He stated that the PSUs of India are public assets designed to nurture economic growth and provide job opportunities. They are also the bedrock of small and micro-enterprises. He pointed out that public sector units are supposed to function considering larger public good and welfare. Their objective is not profit alone.
PM Modi had said in February that government has no business to be in business." Barring four strategic areas, the Union government had said that it was for privatisation of PSUs in all the other sectors. He said in the 2021-2022 Budget session that the aim right now is to use public money judiciously and to do that, we have to reform policies that proved profitable in the past.