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Govt to wind up 10 PSUs, says Bakht

The Union government has decided to wind upten loss-making public sector units in the country, UnionIndustry Minister Sikander Bakht said today.

''It is not the government's business to do business,'' he said.

The duty of the government is to govern the country forsocial causes like education, social science, uplift ofsociety and make policies for the economic development of thecountry, but not to get involved in business, he elaborated.

He said India could withstand the worldwide financial crises as thegovernment led by Prime Minister Atal Bihari Vajpayee during its13-month tenure, has achieved several things, which included an all-time low inflation, 7.2 per cent growth in gross domestic productand six per cent increase in industrial growth.

Bakht also stated that the government has sanctionedRs 2.15 trillion for industrial development.

On being asked about closing down of 40 per cent of small scaleindustries, Bakht said, ''The government has already made a policy for restructuring these units. We have made a provision of loans for these sick units through nationalised banks.''

The minister did not however name the ten units that would be wound up.

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