Karnataka Chief Minister Siddaramaiah has expressed concerns over the prolonged delays in the decision-making process regarding the divestment of public sector undertakings (PSUs) in the state. During a recent review meeting, he questioned the reasons behind the sluggish pace and emphasized the need for expedited action to ensure optimal utilization of state resources.
CM Raises Pertinent Questions
Siddaramaiah pointed out that several proposals related to the sale of stakes in PSUs have been pending for extended periods, leading to uncertainty and missed opportunities. He asked officials to provide a clear timeline for each pending divestment case and to identify bottlenecks that are hindering progress.
Focus on Transparency and Efficiency
The chief minister stressed the importance of transparency in the divestment process, stating that all decisions should be made in the best interest of the state's finances. He also called for a more streamlined approach to avoid unnecessary delays that could impact the valuation of these entities.
Officials from the finance department briefed the CM on the current status of various divestment proposals, including those related to state-run power and transport corporations. The meeting concluded with a directive to submit a detailed action plan within a fortnight.
This development comes amid growing pressure on the state government to reduce its fiscal burden by monetizing non-core assets. The CM's intervention is seen as a move to accelerate the process and bring more accountability to the decision-making framework.
