GANDHINAGAR: Union Finance Minister Nirmala Sitharaman said on Thursday that public sector enterprises (PSEs) in the strategic core sector must improve their performance and, if necessary, develop partnerships with the private sector to stay afloat.

She was in Gandhinagar to celebrate the opening of the 'Nation Building and CPSE's Exhibition.'
"In today's competitive world, even Public Sector Enterprises (PSE) in the strategic core sector must scale up their skills, capacity, competence, and efficiency, and if necessary, enter into partnerships with the private sector to survive," she stated at the event.

"The central government resolved in 2021 to reduce the role of the public sector in nation-building. Many industries have been made available to the private sector. Even in these sectors, which are still allocated for PSE, the role will be reduced soon." "It is past time for the PSEs to demonstrate their power and competency," she said. It will be difficult for them to survive if it is not expanded at the correct moment, or their existence may go unnoticed." Diversification, expansion, and exploration of new prospects are also suggested by the finance minister as ways to stay afloat in the market.

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