Union Minister wants to revive closed and ailing public units to create more jobs
Minister of Heavy Industries and Public Enterprises Arvind Sawant (68) has a task cut out for himself.
He makes it amply clear that his department is quite important to contribute to the government's much ambitious Make in India, Start-Up India and other such initiatives.
Sawant, deputy leader of the Shiv Sena replaced Anant Geete, the lone Sena minister in the previous Narendra Modi-led government. He said he will focus on the revival of closed and ailing public enterprises so that more jobs will be created.
''Survive, revive and thrive is the mantra. I am aware that the closed and financially defunct enterprises cannot be revived through old and traditional ways but it will have to be done by applying information technology and new applications,'' Sawant told DNA.
Sawant said the department will explore various options including the disinvestment, privatisation and monetisation of land currently held by the enterprises. ''However, I want to clarify that there will not be sale of land as the government will continue to have major share. A joint venture partner can be roped in and the money mobilised by offering part of land will be again ploughed back to strengthen the enterprise,'' he said.
Sawant, who has been associated with the Shiv Sena since the party's early years, said the final strategy will be finalised under the Prime Minister Narendra Modi's guidance and direction.
"Those who want to share their expertise in the revival of enterprises are welcome. The department will rope in consultants too,'' he added.
He informed that he was acquainted with the functioning of these enterprises being the parliamentary standing committee member between 2014 and 2019.
"It will come handy for me to contribute in the revival exercise,'' he viewed.
Sawant admitted that it is a huge challenge especially when there are 320 central public enterprises as on March 31, 2016.
Of the 320 enterprises, 244 were in operation and 76 have yet to commence business.
Of 244 enterprises, 165 showed profit in 2015-16 while 78 incurred losses.
The net profit of profit making enterprises was Rs 1.44 lakh crore and the net loss of loss making enterprises was of the order of Rs 28,756 crore.
Sawant, who fought the Lok Sabha election on Gully te Dilli Aapla Manoos slogan, reiterated that his department's efforts to revive and make these units stay afloat will generate more jobs which is need of the hour.
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