The President, Ms Pratibha Devisingh Patil, said on April 13 that the
private and public need to work together more for the high demand from
infrastructure investment.
This is while higher priority must also be given to research and
innovation in public sector enterprises (PSEs) through in-house R&D
facilities, apart from sponsored research with universities and
industry, particularly when foreign collaboration is involved.
“The test is to be nationally creative, globally competitive and
efficient, ensure on-time deliverability and provide employment,” Ms
Patil said while presenting awards to top PSEs in the country for their
operational excellence in 2010-11. The presentation took place during
the Public Sector Day Celebrations organised jointly by Department of
Public Enterprises (DPE) and Standing Conference of Public Enterprises
(SCOPE).
“There should be a constant process of review and assessment, to ensure
that best practices of corporate governance for production and
management are followed, and innovative business practices are adopted.
Public Sectors must make these elements an essential part of the
functioning,” she added.
Also present in the occasion were the Minister for Heavy Industries
& Public Enterprises, Mr Praful Patel and the Secretary of DPE, Mr
O.P. Rawat.
Mr Patel said that investments by the 248 Central PSEs touched an all
time high of more than Rs 6.66 lakh crore, which was 15 per cent more
than the previous year. Turnover was more than Rs 14.73 lakh crore,
which was over 18 per cent. He called upon the PSEs to increasingly
compete internationally and said that the Ministry will help solve all
the issues they face in doing so.
The SCOPE Gold trophy went to ONGC for Environmental Excellence, Steel
Authority of India for Corporate Governance, NTPC and THDC for Corporate
Social Responsibility, Indian Oil Corporation and Bharat Electricals
for R&D, Technology Development, Bharat Heavy Electricals for Best
practices in Human Resource Management. Meanwhile, Power Finance Corp
got the award for best managed bank and financial institution and
National Scheduled Castes Finance and Development Corp for best managed
PSE setup.
