Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do. There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Now as I approach my 90th birthday ( 27 June 2023 ) , I invite you to visit my Digital Avatar ( www.hemenparekh.ai ) – and continue chatting with me , even when I am no more here physically

Monday 10 October 2011

A Perpetual Scam ?


Sure ! Except that it is known as “ Public Sector Units – PSUs “.

Here is why [ as reported in DNA / Sept 06,2011 ] :


Ø  About a third of India’s 249 state–owned firms are losing money ; $ 3.4 billion ( Rs. 15,300 Cr ) in the most recent financial year

Ø  There is nothing the Govt can do because of the current labor laws

Ø  Govt labor department has granted permission to 21 PSUs to close factories – but none has been closed !

Ø  PSUs have assets worth $ 199 billion ( Rs. 8,95,500 Cr ), which, last year gave an average return on capital of about 4.3 % !

Ø  Govt missed the goal of raising $ 8.7 billion ( Rs.39,150 Cr ), this year thru sale of stakes in PSUs


What were once the “ Commanding Heights “ , have now become the “ Demanding Absurdities “ of Indian economy ! Any wonder petrol prices in India are more than double those in neighboring countries ?



With regards

Hemen  Parekh

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