PSUs should become more competitive, says Arun Jaitley

Finance Minister Arun Jaitley on Tuesday said public sector undertakings should learn to function like private business houses in a competitive environment.

"The Public Sector Undertakings (PSUs) must learn how to function like any other business organisation in a competitive environment and should not be run like a government department," Jaitley said, replying to supplementaries in the Rajya Sabha.

The minister informed the elders that 79 central public sector enterprises have incurred losses, of which 49 are sick.

"A total investment of Rs.157,211 crore has been made in these enterprises," he said.