(by Baby Thomas)
Govt. plans single holding firm for PSEs
Posted on 05-Apr-2012
Vaidyanathan Iyer : New Delhi, Mon Apr 02 2012, 02:24 hrs
The government is considering wide-ranging reforms in central public sector enterprises (CPSEs) which, if implemented, will see its role being transformed from an active promoter to a professional portfolio manager or a venture capitalist, with the twin objectives of managing investments and deciding which sectors to invest in.
To achieve this paradigm change, the government may, as a first step, create a single holding structure and then transfer the ownership of select CPSEs, for instance, the maharatnas — the biggest and most profitable CPSEs — to this holding company.
At present, five CPSEs — NTPC, SAIL, ONGC, Indian Oil Corporation and Coal India Ltd — have been accorded maharatna status by the department of public enterprises. Further, equity in all future CPSEs will be held by the proposed holding company, and not by the government.
The idea is to ensure that the CPSEs are run without direct interference by administrative ministries in their day-to-day affairs, Arun Maira, Member, Planning Commission, told The Indian Express. The broad contours of the single holding structure were laid out by a panel of experts on reforms in CPSEs set up by the Planning Commission. “We will set specific timelines for the process that needs to be followed in implementing the recommendations of the panel,” Maira said.
The expert panel included senior government officials such as the Secretary in the Department of PSEs, the nodal department for all PSEs, the Deputy Comptroller and Auditor General and Industries Division Advisor in the Planning Commission, besides chairpersons of at least three maharatnas. Inputs from the report, submitted by the panel recently, will be part of the manufacturing sector strategy of the Twelfth Five Year Plan (2012-17) that is in the works now.
According to the panel’s recommendations, the chairman of the holding company will be appointed by the Prime Minister. It will have a 12-member board, with six members from outside the government. “It would obtain dividends from the units it owned or through divestitures of its stake. It would also undertake investments in some units on the basis of the strategic intent of the government,” said the panel’s report.
The CPSEs whose stakes are held by the holding company will be kept outside the purview of any ministry. They will also not report to the chairman of the holding company. The holding company would only manage the government’s stake in the different PSEs and provide a year-end report on the financial performance of each of the invested entities. “Its (the holding company’s) performance could be monitored by an Empowered Group of Ministers,” the report said.
Members please post in your comments here..
| (by ANILKUMAR G)
NCOA representatives at Dharna venue before its start....
|PRESIDENT SPEAKS (by Baby Thomas)
PLEASE DOWNLOAD THE ATTACHMENT AND HEAR OUR PRESIDENT. SG...
|LET US MEET IN DELHI-SECRETARY GENERAL (by Baby Thomas)
DEAR ALL, WE ARE EXTREMELY HAPPY TO NOTE THAT SOME ACTIVE INTERACTI...
|THE RECENT DEBATES THROUGH GROUP MAIL (by Baby Thomas)
DEAR ALL, PL. OFFER YOUR COMMENDS ON THE DISCUSSIONS TAKEN PLACE TH...
|MoU Score and Rating 2012-13 as on 17.2.2013 (by Baby Thomas)
The MoU Score and Rating 2012-13 as on 17.2.2013 is given as attachmen...
|BHEL MOU RATING (by Baby Thomas)
MOU Rating announced by Govt.( not yet loaded in dpe web site) B...
|BHEL CHAIRMAN GETS EXTENSION BEYOND 60 (by Baby Thomas)
BHEL CMD got extension for 2 more years . He is 60Y now . I understand...
|Minutes of NEC held at Bangalore on 22 Aug 2013. (by Baby Thomas)
NEC registered an attendance of 35. Delegates from all Zones except We...
|Details of workmen, supervisors, officers strength in each PSE (by Baby Thomas)
Please find the attached file below...
|Pension Scheme and post superannuation Medical Benefit Scheme (by Baby Thomas)
Please find the attachment below.....
|BHEL (by Sivaramaiah)
Dear Members, BHEL CMD got extension for 2 more years . He is 60Y now . I understand that he is the only CMD got extens...
|Decisions of National Executive Council held at Bangalore (by Baby Thomas)
Dear Secretaries of unit OA’s, Zonal Secretaries and National office bearers, The National Executive Council held a...
|AUDITED ACCOUNTS FOR CALENDER YEAR 2012 (by Baby Thomas)
Dear all, Pl. find the audited accounts of NCOA for the calender year 2012 which was passed in the NGC at Goa on 18.0...
|FORMAT FOR ZONAL REPORTING - Find attachment (by Baby Thomas)
The format for zonal reporting is given as attachment. Zonal Secretaries, please download the same and report the given ...
|Developed for the National Confederation of Officers' Association.||Powered by : [ webprofessionalsindia.com ]|