In a paper compiled by the Federation of Indian Chambers of Commerce and Industry (FICCI) for the national seminar on `Restructuring of PSUs' to be held tomorrow, the Chairman said the financial restructuring alone is not enough to make PSUs more competitive since it does not reach the root cause of financial indiscipline, according to a FICCI release.

He said the PSUs should be restructured in terms of corporate governance prior to their disinvestment in order to enhance intrinsic share value. Systems and procedures in PSUs should be established for promoting the interest of minority shareholders.