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.
