Achievements of Public enterprises
Public enterprises have played a stellar role in speeding up the process of industrial development in the country. They have served the needs of the nation and ensured that products and services are made available to consumers at affordable costs. The following are a few of the achievements of public enterprises:
1. Set up industries in strategic and core sectors.
2. Provided basic infrastructure facilities at affordable costs.
3. Promoted balanced regional development by setting up industries in backward areas.
4. Restricted the growth of private monopolies and protected consumers against the evils of private monopolies.
5. Generated large scale employment opportunities and contributed to the reduction in unemployment.
6. Served as a model employer, providing good remuneration, job security and welfare facilities to employees.
7. Exported goods and services thereby earning valuable foreign exchange.
8. Set up industries with a focus on import substitution to conserve foreign exchange resources and achieve self-sufficiency.
9. Taken over sick industrial units, restructured them and converted them into viable units.
10. Achieved profitable growth and contributed to the national exchequer.
11. Set up a network of financial institutions which have financed the growing needs of the industry.
12. Promoted the growth of village, cottage, traditional and small scale enterprises by providing advice, consultancy, finance and marketing facilities.