Transforming Public Sector Enterprises: CII Releases Framework For Loss-making CPSEs
Shri Babul Supriyo, Minister of State for Department of Heavy Industries and PSEs while commending the efforts of CPSEs for their valuable contribution towards nation building said ‘a real paradigm shift can be brought with the PSEs by enhancing the PSE performance it is required to work on increasing productivity and maintaining discipline within PSEs, the Minister added. Giving a macro view of the performance of the CPSEs, the Minister said, while profit of 174 profit making CPSEs during 2016-17 stood at INR 1,52,647 cr showing profit growth of more than 5% from previous year, loss of 82 loss-making PSEs stood at INR 25,045 cr reflects a decrease in loss of 18% over the previous year.
Speaking at the summit, Seema Bahuguna Secretary, Department of Public Enterprises acknowledged the significant increase in the capex by CPSEs and said, while the total investment in all CPSEs stood at INR 12,50,373 cr by 2016-17 and the total gross revenue from operational CPSEs stood at INR 19,54,616 cr, the total income of CPSEs stood at INR 18,21,809 Cr.
‘Transforming Public Sector Enterprises’, the Confederation of Indian Industry’s Report sets out a framework for assessing the CPSEs and lays out the key imperatives to enhance their competitiveness. For the revival and restructuring of the sick and loss-making PSEs, DPE has already issued guidelines, provided a broad framework for movable and immovable assets, fine-tuned the MoUs system, making the processes more efficient for them, the Secretary added. She further invited PSEs to take the benefits through the recently launched knowledge management portal SAMANVAY which shares best practices, breakthrough innovations, case studies, etc in different functional domains of the CPSEs.
The PSE Summit was jointly organized with the Department of Public Enterprises and CII in association with the National Foundation for Corporate Governance.