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| President Mukherjee during the SCOPE event |
PRESENTING the SCOPE Meritorious Awards
for the year 2012-13 on November 5, President Pranab Mukherjee
highlighted the importance of the public sector enterprises in
strengthening the fundamentals of economy. Here are the key ten
things...
that Mukherjee outlined in his speech:
President compliments the Department of
Public Enterprises (DPE) and Standing Conference of Public
Enterprises (SCOPE) for organizing this event which provides
recognition to the efforts being made by the CPSEs in a variety of
areas such as environmental excellence & sustainable development; corporate governance; corporate social responsibility & responsiveness; research and development and technology development & innovation.
The Central Public Sector Enterprises
were set up immediately after independence to occupy the commanding
heights of the economy and to channelize investment in areas which
were critical to our efforts at development and self-reliance.
The total investment in our 277 CPSEs
stood at more than Rs. 8.5 lakh crores as on 31stMarch, 2013.
Operational CPSEs had a turnover of
approximately Rs. 19.45 lakh crores, with the aggregate net profit of
profit-making CPSEs amounting to Rs. 1.43 lakh crores during 2012-13.
Market capitalization of 46 listed CPSEs stood at more than Rs. 11.16
lakh crores as on 31st March, 2013.
"These figures clearly demonstrate the
pivotal role that the CPSEs play in our economy," said the President.
As envisaged at the time of their
creation, they have proved to be the backbone of our developmental
effort and are rightly recognized as drivers of growth in
infrastructure and other critical sectors of the economy.
Govt steps to revitalize PSUs:
The Government has taken a number of
steps to improve the functioning of CPSEs. These include empowerment
of Boards of Maharatna, Navratna and Miniratna CPSEs,
professionalization of Boards of CPSEs and strengthening of
performance evaluation systems. These steps have contributed
significantly in creating a positive and conducive policy framework
for CPSEs.
Role of Make in India Campaign:
Today India stands at the cusp of a
transformative phase which, the President said, will successfully
place the nation in the league of developed nations over the next two
decades. Here lies the true significance of Prime Minister’s ‘Make
in India’ campaign which aims to transform India into a truly
world-class, global manufacturing hub.
Make in India Campaign and PSUs:
The CPSEs have a vital role in making
this campaign a reality. They have, over the years, established
excellent manufacturing facilities in various parts of the country.
India has one of the largest markets in the world and there is no
dearth of demand for competitively priced, quality products. “We
should aim not only at catering to our huge domestic demand but also
towards high quality product development and greater access to
foreign markets. This would not only create adequate employment
opportunities for our youth but also raise standards of living
across.”
Catering to domestic and external
demands
The expansion of operations of PSUs
will help to cater to both domestic and foreign markets can only come
after making a realistic assessment of business potential and
ensuring that our products conform to international standards.
Latest technology
PSUs must harness the latest technology
both through suitable industry-academia linkages and by entering into
strategic alliances with entities which possess these technologies.
It is also imperative that attention is
focused on vendor development and mandatory procurement through small
and medium enterprises. This would not only develop local industry
but also boost domestic manufacturing and usher in a culture of
entrepreneurship in the country.
PSUs must adapt to new scenario
An ever changing and dynamic business
scenario throws up newer and complex challenges which call for
innovative solutions. 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 reinvent processes in order to
continuously stay ahead of market requirements and expectations. The
President, accordingly, advised the PSUs to critically re-appraise
existing systems and procedures and develop newer, more efficient
ways of doing business with a view to taking full advantage of the
latent potentialities that exist, both on the material and human
front, in them.
Partnering the Govt
The CPSEs have actively partnered
Government in implementing its social and economic policies. I am
confident they will continue to take the lead in the ‘Swachh
Bharat’ campaign and other socially oriented schemes being launched
by the Government.
Custodians of wealth
The President pointed out that the
CPSEs are custodians of public wealth and, as such, they necessarily
need to ensure continued compliance with the best standards of
corporate governance and transparency.
PSUs and CSR
The CPSEs have, over time, contributed
greatly towards fulfilling their Corporate Social Responsibility
obligations. He expressed the hope they will continue with these
activities, designed for the uplift of needy sections of our society,
in the future also as mandated under the Companies Act, 2013.
But our present and previous govt and highly educated, most powerful bureaucrats are not know how to save the national assets and how to run the psu profitability,but they have TONNES of ideas for disinvest the psu and closure,this is the india.PM says MAKE IN INDIA-Our bureaucrats says says CLOSURE INDIAN PSU.TAX PAYERS PLEASE THINK GOVT STARTED PSU NOT SICKPSU.why the psu became sick who is the responsibility,but they are taking decision to shut down the psu what is this nonsence.100 percent mismanagement is the only reason.behind the scene BUREAUCRATES.
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