October 15, 2009 8:11 PM

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Government encouraging PSUs to raise resources: PM

The Prime Minister said, the government is encouraging Public Sector Units to raise resources by listing on the stock exchanges. Speaking after presentation of the excellence awards to PSUs in New Delhi this evening, Dr Manmohan Singh said, the move will unlock the true value of a company, besides improving its corporate governance standards. He said, several Public sector Units have got their shares listed on the markets in the last two years and many more want to do so. He said, the Government is committed to giving flexibility and autonomy to them to make them more competitive. Dr.Singh said, it has already delegated more powers to navratna and mini-ratna companies so that they can further improve their performance.The Prime Minister said that India has weathered the global melt down better than other country and this reflects the strength of the Indian economy and hoped that public sector will continue to play the significant role in nation building.

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