Yes, Public sector enterprises are still necessary in developing nations. It is still needed in this age of globalization. Private sector companies have, naturally, profit making motive. They take advantage of cheap labor in developing nations.
They are not interested in, nor they feel it their duty, to uplift standard and quality of human life.
Private sector companies, normally, do not want to invest in infrastructure as this sector needs huge investment. Investing in infrastructure does not also yield a quick return.
There are many neglected/ under developed areas and sectors in developing nations seeking attention. Many of the sectors are not profitable or can yield lower profit margins.
Private sector companies, naturally, do not want to invest in these above-mentioned areas and sectors. Only public (government) sector takes care of these.
Hence, public sector companies are still useful in developing countries in this era of globalization.