Economic Times induced intellectual aggression by mailing this news to my mailbox! So, lets be aggressive !!
I have been always aggressive deprecatory of such statute based PSU incorporated ventures (for every other thing) – since inception! Or at least limit it to bare necessities – to censure profiting of basics / to ensure basics necessities are affordable always!
Anyone who has worked with global Investment Banking / Consulting firms – (undertaking management strategy audits + operational/financial evaluation of financial management / fiscal strategy of public works executions) – would preach at length – the level of mismanagement and pathetic repercussions of – incorporating a statutory PSU Corporation – for public works – vs – offloading whole work – directly to private players – under public-private partnership – like Airports to GVK, or toll highways on BOT basis!
I myself can endorse this – having evaluated such ventures!
Incorporating a PSU via statute – for public works execution is redundant, and rather counter-productive for economy !! Politicians interfere with management policies, vote-banks drive investment decisions, unprofessional management, even workforce become counter-productive – as political strengths determine recruitment, workplace policies, even execution of business, and list is perpetually negative!
Why not privatize the whole public works – under BOT basis or public-private partnership? – which will ensure accountability, ensure no politicizing of any decisions, ensure all decisions are executed as per merit!
Govts rather privatized bare necessities like electricity – which ought to have been ALWAYS under public enterprise !!