PSU Award 2014: PSUs must reinvent to stay relevant

Governance Now PSU award, 2014, November 7, New Delhi

GN Bureau | November 8, 2014


(From left to right) Ram Vilas Paswan, Kalraj Mishra, Vinay Sahasrabuddhe and Ashish Kumar Chauhan
Arun Kumar

PSUs must reinvent to stay relevant in the current scenario was the central theme of the various discussions and speeches at the Governance Now PSU award 2014 function held on November 7 in Delhi.

The second edition of the awards by the magazine, part of Sri Adhikari Brothers Group or SAB TV group, was organised in partnership with Standing Conference of Public Sector Enterprises (SCOPE) and the Indian Social Responsibility Network, ISRN to recognise excellence in public sector undertakings (PSUs).

Addressing the gathering, chief guest Kalraj Mishra, union minister of micro, small & medium enterprises, said, “During insurgency and in troubled areas (Maoist/separatist-affected); it was the PSUs that had made inroads. But they are dealing with the problem of perception today. It is widely believed that everything related to government is not very productive.”

Guest of honor Ram Vilas Paswan, union minister for consumer affairs, food and public distribution and Vinay Sahasrabuddhe, director-general, Rambhau Mhalgi Prabodhini and national vice-president of BJP also stressed the need for overhaul of the manufacturing sector in the country. Paswan said PSUs could play a greater role in making prime minister Narendra Modi’s ‘Make in India’ campaign a success.
The inaugural session was addressed by UD Choubey, director general, SCOPE, Laveesh Bhandari, chief economist, Indicus Analytics and Ashish Kumar Chauhan, MD & CEO, BSE Limited.

The inaugural session was followed by the panel discussion on ‘unlocking the potential of PSUs’. Lauding the government’s effort to privatise sick companies Ajay Dua, former secretary, ministry of industry & commerce, said, “These companies could not have been revived if they remained under the government.”

RK Tyagi, chairman, HAL said privatization of companies without ceding management control isn’t the best way to privatise.

The other panelists were RG Rajan, CMD, Rashtriya Chemicals and Fertilizers Ltd; M Narendra, former CMD Indian Overseas Bank and Kishalay Bhattacharya, national business head for government and PSU and business head at Alliances of Ricoh India.

The awards were anchored by the Institute for Competitiveness. The final list of awardees was selected by a jury led by Anurag Goel, member of Competition Commission of India.

A total of 31 awards were given to 22 public sector enterprises across maharatnas, navratnas and miniratnas. The CPSEs were awarded for strategic performance, human resource utilization, asset utilization, growth and competitiveness, strategic turnaround, IT adoption, CSR initiative, innovation and HR practices (training).

The winners
STRATEGIC PERFORMANCE
Maharatna: Oil & Natural Gas Corporation Ltd
Navratna: National Mineral Development Corporation Ltd
Miniratna Class I: National Hydroelectric Power Corporation Ltd
Miniratna Class II: FCI Aravali Gypsum & Minerals India Ltd
 
HUMAN RESOURCE UTILISATION
Maharatna: NTPC Ltd
Navratna: National Mineral Development Corporation Ltd
Miniratna Class I: Numaligarh Refinery Ltd
Miniratna Class II: FCI Aravali Gypsum & Minerals India Ltd
 
ASSET UTILISATION
Maharatna: Bharat Heavy Electricals Ltd
Navratna: National Mineral Development Corporation Ltd
Miniratna Class I: Numaligarh Refinery Ltd
Miniratna Class II: Rajasthan Electronics & Instruments Ltd
 
GROWTH & COMPETITIVENESS
Maharatna: Indian Oil Corporation Ltd
Navratna: Power Finance Corporation Ltd
Miniratna Class I: Mangalore Refinery & Petrochemicals Ltd
Miniratna Class II: National Small Industries Corporation Ltd
 
STRATEGIC TURNAROUND
Maharatna: Bharat Heavy Electricals Ltd.
Navratna: Oil India Ltd
Miniratna Class I: Garden Reach Shipbuilders & Engineers Ltd
Miniratna Class II: Mineral Exploration Corporation Ltd
 
IT ADOPTION
Maharatna: SAIL
Navratna: Hindustan Aeronautics Ltd
Miniratna Class I: Railtel Corporation of India Ltd
 
CSR INITIATIVE
Maharatna: Coal India Limited
Navratna: National Aluminum Company Ltd
Miniratna Class I: Rashtriya Chemicals & Fertilizers Ltd
 
INNOVATION
Maharatna: Oil & Natural Gas Corporation Ltd
Navratna: Hindustan Aeronautics Ltd
 
HR PRACTICES (TRAINING)
Maharatna: SAIL
Navratna: Neyveli Lignite Corporation Ltd
Miniratna Class I: Railtel Corporation of India Ltd
 

Comments

 

Other News

NTPC adds highest ever capacity; records highest single day generation

  With commissioning of 800 MW unit at Kudgi in Karnataka, 250 MW unit at Bongaigaon in Assam and 20 MW at Bhadla solar in Rajasthan, the total installed capacity of National Thermal Power Corporation (NTPC) group has reached to 49,943 MW.   The 12th plan cap

Why do we need Aadhaar?

 Aadhaar is arguably one of the most convoluted public policy interventions in India’s history. It has been more than eight years, yet there is little clarity on the exact purpose of the biometric-based unique identification project.  Let me take you through an event which I witne

AAI signs MoU with Daman and Diu admin for maintenance of Diu airport

The airports authority of India (AAI), a Miniratna PSU, has undertaken operation, development and maintenance of Diu airport from Diu administration.    A memorandum of understanding demonstrating the responsibilities was inked on March 20 between the union terri

PSU performance: Better than expected

Central public sector enterprises (CPSEs) have done quite well despite facing headwinds, according to the Public Enterprises Survey (2015-16) that was tabled in parliament on March 21. The net worth of all the CPSEs have gone up and the overall net profit has zoomed. Their contribution to the cen

National Health Policy: Old prescription, new date

After much discussion and pondering over for more than two years, the cabinet has approved a new National Health Policy, scrapping the old one which was formulated in 2002. The government aims to increase the public health expenditure to 2.5% of the GDP by 2025. The policy formulated in 2002 aimed

It’s traumatic, says African student

  “We have requested more security from the government of India and the Uttar Pradesh government,” said Abdou Ibrahim, senior adviser, Association of African Students (AASI)  following an attack on four students from Africa in Greater Noida, Uttar Pradesh. &n

Video

यूपी में नकल करने वालों की अब खैर नहीं

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter