PSU

Centre’s disinvestment plan set to get a major boost

 This financial year promises to be a bumper year for the government when it comes to disinvestment revenue. As many as 30 cash-rich PSUs including ONGC, NTPC, Power Grid, ONGC Videsh and BHEL will start buying back a portion of their own sha

CAG raps HLL for poor market practices

The Comptroller and Auditor General (CAG) of India has heavily criticised the central public sector undertaking (PSU) HLL Lifecare Limited, which makes and markets a range of health care products. In its latest report to the health ministry, it sa

70% of MTNL’s revenue goes in paying salaries and pensions

State-run MTNL spends 70 percent of its revenue on salaries and pension of its staff, communications minister Manoj Sinha told Rajya Sabha on Friday. The minister said that this has affected the financial condition of once profit-making telecom co

PSUs asked to contribute to Swachh Bharat pool

The government has turned to state-run companies to contribute to an account created to finance the prime minister`s Swachh Bharat programme. The department of public enterprises (DPE) has sent out an advisory, asking central public sector underta

40 central PSUs are headless

As many as 40 central public sector enterprises (CPSEs) are running without a regular chief executive, parliament was informed today. These include MTNL, Shipping Corporation of India, NMDC and Rashtriya Chemicals and Fertilizers, minister of stat

Mineral, oil, metal and energy sector firms identified for disinvestment

The government has identified state-run enterprises in sectors like mineral and metal, oil, energy, capital goods as well as some mid-size and small stocks for disinvestment, the finance ministry said on Tuesday, according to a report by the Econo

PK Purwar to head MTNL for three months

The appointments committee of cabinet has given the additional charge of the post of chairman and managing director of MTNL to PK Purwar, for a period of three months starting from June 8. Purwar is currently working as director (fi

Government to review NITI Aayog’s proposals for strategic disinvestment

 The government will soon take up proposals for strategic disinvestment of central public sector undertakings, from the list submitted by the government think tank NITI Aayog.  A core group of secretaries on disinvestment, head

IRCTC to offer travel insurance cover of Rs 10 lakh at a premium of Re 1

From September 1, Indian Railway Catering and Tourism Corporation (IRCTC) would offer optional travel insurance to railway passengers, for a premium of just Re 1 while booking an e-ticket. It would be initially introduced on a trial basis, accordi

Merger of ONGC and OIL worth deliberating: Dharmendra Pradhan

The merger of state-owned oil firms could create synergy and boost efficiency, and the idea is worth deliberating, said petroleum and natural gas minister Dharmendra Pradhan. The idea was proposed by the country’s largest oil

MTNL to get a full-time CMD soon

 The department of telecommunications (DoT) has formed a search-cum-selection committee to find a full-time chairman and managing director (CMD) of state-run telecom company MTNL, for a period of five years, according to a news report publish

No separate guidelines for JVs of defence PSUs

 The government has decided to end existing guidelines for establishing joint venture (JV) companies by defence public sector undertakings (PSUs). The cabinet’s decision will provide a level-playing field in forging partnerships for def

“ONGC should merge with other state-run refiners”

Oil and Natural Gas Corporation (ONGC), India`s largest oil and gas exploration and production company, should merge with a refining corporation such as Indian Oil, Bharat Petroleum or Hindustan Petroleum to weather price volatility, stabilise its

Shut down one PSU, sell four others: NITI Aayog

 NITI Aayog may recommend the closing down of one sick central public sector enterprise (CPSE). Four enterprises could be up for strategic disinvestment in the first phase of the government plan of shutting down and restructuring of loss-maki

Cachar Paper Mill faces financial crisis

 Cachar Paper Mill (CPM), a unit of Hindustan Paper Corporation, is facing financial crisis on account of non-availability of coal, the government has said. Coal is not available due to a blanket ban imposed by National Green Tribunal (NGT) o

Disinvestment: Government may sell stake in 3 PSUs

 The government is moving ahead with the plan for strategic disinvestment of the selected public sector undertakings (PSUs). And there could be at least two-three such stake sales in the current fiscal. According to a news report in

Strategic disinvestment in BSNL, MTNL on cards

 Government’s think-tank Niti Aayog may consider state-owned Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) for strategic disinvestment, according to a news report published in The Indian Express. &nb

Utpal Bora takes charge of Oil India

 Utpal Bora on Monday took charge as the chairman and managing director of Oil India Limited, the country`s second-biggest state-owned oil and gas explorer.  Bora, who was executive director at Oil and Natural Gas Corporation (

IRCTC to convert old coaches of Palace on Wheels into eateries

  The Indian Railways want its catering and tourism enterprises IRCTC to convert the old coaches of Palace on Wheels into theme-based restaurants. These restaurants will be placed strategically at railway properties of historic significance,

ONGC, OIL to face royalty burden worth $1 bn

 Government-owned Oil and Natural Gas Corporation Limited (ONGC) and Oil India Limited (OIL) will face an additional royalty burden of more than $1 billion.   The Narendra Modi government has decided that they would

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


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