Andhra Pradesh   

No privatisation of any State PSU, says YSR

Special Correspondent

HYDERABAD: Andhra Pradesh Chief Minister Y. S. Rajasekhara Reddy gave a categorical assurance on Monday that there would be no privatisation of any public sector undertaking in the State, much less the Andhra Pradesh State Transport Corporation and Singareni Collieries.

Addressing a press conference here, Dr. Reddy sought to dispel the fears among employees and some political parties about privatisation of the PSUs in the wake of the recent Cabinet decision to restructure 30 enterprises and major cooperatives.

He confirmed that the Andhra Pradesh Industrial Development Corporation would be merged with AP Industrial Infrastructure Corporation as the former had outlived its purpose of taking loans from banks and assisting entrepreneurs. Prospective entrepreneurs were taking loans directly from banks.

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