President Pranab Mukherjee has advised central public sector enterprises (CPSEs) chiefs to critically re-examine the existing systems and develop newer and efficient ways of doing business.

While drawing attention to the need of innovation in doing business in the ever changing and dynamic business scenario, Mukherjee said: “Over the years, our CPSEs have developed a certain way of doing business. In today’s scenario, it is critical to re-examine, re-engineer, and re-enhance processes in order to continuously stay ahead of market requirements and expectations.”

While addressing the Standing Conference of Public Enterprises (SCOPE) Meritorious Awards function held at Vigyan Bhawan in Delhi on Wednesday for excellence and outstanding contribution to the public sector management, the president appreciated PM’s recent ‘Make in India’ campaign to transform India into a truly world class global manufacturing hub. He said CPSEs have a vital role to play in making this a reality.

Meanwhile, the SCOPE award for environmental excellence in sustainable development was given to Steel Authority of India Limited (SAIL). The award for corporate governance was given to Bharat Petroleum Corporation Limited. Indian Oil Corporation Limited was awarded for its work in corporate social responsibility and responsiveness. Bharat Electronics Limited (BEL) was awarded for best practices in human resource management. The award for best managed bank, financial institutions or insurance company was given to Power Finance Corporation Limited. National Safai Karamcharis Finance and Development Corporation (NSKFDC) was given the best managed PSE set up under Section 25.

Three newly-designated Navratna CPSEs felicitated by the president were: Engineers India Limited, National Buildings Constructions Corporations Limited, Container Corporations of India Limited was felicitated by the president.

On the occasion, Anant Geete, minister of public enterprises and heavy industries, said many CPSEs are a step ahead of their counterparts in private sector. He added that various measures have been taken up by the government such as reducing interference of the government in the functioning of CPSEs to support them.

In the occasion, chairman SCOPE and SAIL CS Verma, director general SCOPE UD Choubey and minister of state for public enterprises and heavy industries Pon Radhakrishnan were present.

President Pranab Mukherjee's speech at the SCOPE Meritorious Awards