New Delhi: Minister for Heavy Industries and Public Enterprises Praful Patel today said public sector units (PSUs) deserve more flexibility and freedom as they function under various constraints.
It is not that there is dearth of capital, but there is a need to give more flexibility and more freedom to PSUs, Patel said at at CII's Annual General Meeting here.
"While we have Maharatnas and Navratnas which are given more operational flexibility, I still feel that public sector still struggles as there are lot of constraints, whether it is the administrative ministries or entire climate within the government," he added.
At present, there are five Maharatna companies - ONGC, NTPC, IOC, SAIL and CIL and 16 Navratna companies, including BHEL and GAIL.
The Minister would also meet tomorrow the heads of Maharatna and few Navratna public sector units to discuss issues faced by them in meeting annual targets.
Patel, further said, three are good PSUs in terms of governance, growth and technology which could contribute more to the country's economic growth.
"Look at all our Maharatnas whether it is ONGC, SAIL, CIL or many other companies which are even not Maharatnas but are fantastic PSUs," he said.
There are many areas of opportunities and growth. Heavy industries, engineering, allied sectors or public sector and they can contribute more to the country's economic growth, he added.