Government wants PSUs to buy back shares
Government wants cash-rich PSUs like Coal India, Oil India and NTPC to take a cue from the private sector and use surplus cash to buy back shares and improve balance sheets. ôMajor private sector companies have a treasury wing to make use of their cash balance more effectively. PSUs have so far not been able to manage their cash balance efficiently. Department of Investment and Public Asset Management (DIPAM) will endeavour to help PSUs to utilise their cash balance for resource augmentation,ö an official said.
Contact: Department of Investment and Public Asset Management