PSUs don’t even have the requisite independent directors

Whether the government is able to successfully execute its aggressive privatisation plan—all but a small number of PSUs are to be privatised— remains to be seen, but what is clear is that PSUs are in all manner of trouble. In the case of BSNL, for instance, this newspaper reported, it has been almost a year since the government first forced the telecom PSU to cancel its 4G tender—to prevent Chinese suppliers from bidding for it—but there is still no clarity on how long it will take BSNL to get the network running.

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