He said that for Public Sector Enterprises, both profit and generating social benefit are important. Complimenting the PSE employees for their contribution, the Prime Minister said that major objectives of the Government, such as electrifying all unelectrified villages, and providing LPG connections to the poor, could not have been fulfilled without the hard work of the PSE workers.
The Prime Minister said that it is not enough to rest on past laurels, but is also important to adapt to emerging challenges. He said enterprise and innovation should be the guiding principles in the 21st century. He said Incentives, Imagination and Institution Building would be the three keys to success.
The Prime Minister exhorted PSEs to help in making the New India, through changes in technology and processes. For this he said, PSEs would need a 5-P formula – Performance, Process, Persona, Procurement and Prepare.
Elaborating the same, he mentionedimproving operational and financial performance; transparency and accountability in processes; procurement through the GeM platform and from MSMEs; and preparation for technological disruptions such as Artificial Intelligence, Quantum Computing and Robotics.
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