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PM Narendra Modi to prod heads of public sector enterprises

PM Narendra Modi to prod heads of public sector enterprises

The National Democratic Alliance (NDA) government is drawing up a strategic plan for the central public sector enterprises (CPSEs) in what could signal its intent to revamp these units in order for them to contribute to the economy and nation-building in a more efficient manner. According to official sources, Prime Minister Narendra Modi will deliberate with the top executives of these companies on the ways to improve their performance. CPSEs in recent years have enhanced their profile with a much larger share in public investments without compromising on their contribution to the government coffers by way of dividends and taxes. In the first conference with the CPSE top brass after he assumed office, Modi will ascertain from them the ways to make these companies capable of playing transformative roles to boost economic growth, the sources said. At the same time, the government is going ahead with its plan to complete strategic sales of a clutch of CPSEs this fiscal, in what marks revisiting the policy after 13 long years. On their part, the CPSE chiefs are likely to list out key issues faced by them like autonomy, disinvestment plans, and the need to improve the memorandum of understanding system with the government where financial targets are set. Making the boards of these firms more professional and flexible to market realities is also on the agenda.

Source: Financial Express

10 months ago

By HR Reporters

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