New Delhi: Prime Minister Narendra Modi on Wednesday strongly supported the privatization of non-strategic public sector undertakings, saying that doing business is not the government's job. He said that his government is committed to privatizing government units in the remaining areas, except for a few PSUs in strategic areas.

PM Modi said that running the loss-making enterprises through tax payers' money wastes resources. These resources can be used on public welfare schemes. PM Modi said in a webinar organized on public sector companies that under-utilized or unused assets of public sector undertakings will be monetized. These include oil and gas and power sector assets. Their monetization will generate investment opportunities of Rs 2.5 lakh crore.

PM Modi said that it is the duty of the government to support enterprises and companies. But it is not necessary that the government should own and run these companies. PM Modi said that private sector brings investment, global best practices, best managers, change in management and modernization. He said that the money that would come from the sale of stake in PSUs would be used for public welfare schemes like water and sanitation, education and health.

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