New Delhi: Amid the government's push to reforms, Prime Minister Manmohan Singh will meet the chiefs of PSUs tomorrow to discuss ways to push economic growth through enhanced investments, besides providing them greater autonomy and empowerment.
The meeting, to be attended by 25 heads of companies, mostly Maharatnas and Navratnas, will be the first interaction of the Prime Minister collectively with captains of public sector undertakings (PSUs) whose turnover has jumped enormously since the economic liberalisation was unleashed in 1990s.
It will give an opportunity to the captains of the PSEs such as like ONGC, NTPC and BHEL to convey their views to the Prime Minister on several key issues like autonomy and empowerment of CPSEs, their disinvestment plans and changes in the Memorandum of Understanding (MoU) system, sources said on Monday. The meeting will also discuss flexibility to the boards of CPSEs, professionalism in boards, future investment plans and capital expenditure as well as their plan to go global, they said.
The meeting was initiated by Heavy Industry and Public Enterprises Minister Praful Patel. Last month, he had said his ministry would take up with the Prime Minister ways to improve the functioning of CPSEs. During 2010-11, the 248 CPSEs touched an all time high investment of more than Rs 6.66 lakh crore, which was 15 per cent more than the previous year.
Total turnover of all PSUs went up by 18.3 per cent to Rs 14.7 lakh crore in the 2010-11 fiscal. The market capitalisation of 45 listed CPSEs was about Rs 15.6 lakh crore, which constituted about 22 per cent of total market capitalisation of the BSE as on March 31, 2011.
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