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MAJOR POLICY INITIATIVES AND DECISIONS
(BULLET POINTS)
MINISTRY OF HEAVY INDUSTRIES
AND PUBLIC ENTREPRISES
Redeeming its pledge in the National Common Minimum Programme (NCMP) to revitalize the Public Sector, a Board for Reconstruction of Public Sector Enterprises (BRPSE) established.
All privatization being considered by the Board for Reconstruction of Public Sector Enterprises on a transparent and case to case basis while privatization revenues to be used for designated social sector schemes
Initiatives taken to give full managerial and commercial autonomy to successful profit making PSEs operating in competitive environment.
Profit making companies not to be privatized.
Chronically loss making companies either to be sold off or closed after giving the workers their legitimate dues and compensation.
Idea to induct independent directors of repute to make the Boards of Directors more professional mooted.
CPSEs proposed to be empowered with enhanced financial powers to enable them to make quicker decisions relating to investments and joint venture.
Strengthening the corporate governance practices in the CPSEs.
Reviewing of Navratna and Miniratna scheme.
The common parameters set in the MoU Guidelines for all PSEs other than Social Financial , Trading and Consultancy PSEs.
Public Enterprises Survey 2003-04 laid in Parliament and indicated a remarkable improvement in the overall performance of the 242 CPSEs.
BSC/SB/DN
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