the claim that Public sector is failed in india is worth considering the reasons behind. Lack of autonomy is one issue. Lack of accountability is another. Ofcourse there can be many. We all must know that Public sector companies were started from scratch when the industrialists were not interested in the investments in such sectors or areas. At that time we have Nehru and other patriots ruled our country. But now, we have gundas, killers, and selfish people in politics.
Like Gorbachev, who saw the utter failure of the USSR's totalitarian communist system and tried to save it by pussyfoting around with 'new' policies, so too the Indian communists are pussyfooting around with PSUs just to prolong their costly, miserable lives, all in vain - they will die a slow lingering death, all the while eating up scarce funds which would have been better spent on urgently needed education, housing, healthcare etc. Populist politics of free lunches will be the death of this stinking fetid land of filth and squalor - maybe it's all for the best.
How life is changing, is the one example of IOCL's venture into retail market. If Govt can't think beyond its subsidy policy then the somebody has to think. It is really very good idea of IOCL in principle but long way to go....... Now time has come for the govt to provide complete autonomy to the PSU though disinvestment is not the option govt will choose due to political pressure. It is time for the govt to think out of the box otherwise all PSU(specially OIL and GAS based) will be sick and die its own.
Public Sector has been the failed experiment in Nehruvian socialism. Even today, given a choice, we would go a private petrol pump. Indian Railways is a den of corruption. All these Public Sector Undertakings (PSUs) should be privatised. Take for instance HMT. It is a den of incompetence and ineptitude. Even after sinking in Rs.1000 Crores over the past several years, HMT is sinking to abysmal depths. It has the dubious record of highest number of vigilance cases. The top management is figuring in the newspapers for wrong reasons. These PSUs have become havens for burnouts and the corrupt. The public can not pay for their laid back life and free lunches. Govt. would have been wiser, if it had disinvested their holdings in HMT, when the share price touched Rs.100 in the bourses. With the negative book value, this is a price any investor in this company should disinvest. But now it has slid again to 30s. Make no mistake, HMT cannot be revived. Visit their dilapidated production shops and burnt out executives. This has no hope. So is the case with HAL, BEML,ITI and so many others. They all should be privatised or closed.
In order to improve its financial position, Indian Oil Corporation should take steps to bid for more Oil and Gas assets either in India or abroad. As it is present in Western countries, maintaining retail stores at its fuel outlets is a step in the right direction.
Indian Oil Corporation should explore ways of expanding its business in its core-sector, namely in the business of hydrocarbons, before venturing into any unchartered waters.
How life is changing, is the one example of IOCL's venture into retail market. If Govt can't think beyond its subsidy policy then the somebody has to think. It is really very good idea of IOCL in principle but long way to go....... Now time has come for the govt to provide complete autonomy to the PSU though disinvestment is not the option govt will choose due to political pressure. It is time for the govt to think out of the box otherwise all PSU(specially OIL and GAS based) will be sick and die its own.
