The Central Government is considering giving greater autonomy and empowerment to central public sector enterprises (CPSEs), a top official said.

“More reforms are under consideration pursuant of CEOs of CPSEs meeting with Prime Minister Manmohan Singh,” Secretary in the Department of Public Enterprises (DPE) O. P. Rawat said.

MoU exercise

He was speaking at a seminar on ‘Training needs assessment in State-level public enterprises (SLPEs)’ here on Friday. Mr. Rawat said several reforms such as Memorandum of Understanding (MoU) exercise, quarterly performance review and empowerment of the board of companies, had been introduced for CPSEs.

On October 23, the Prime Minister had convened a meeting of heads of 25 CPSEs.

The PSUs were clearly told that either they invest their huge surplus or pay it back as special dividend to the exchequer. At present, about 25 Central PSUs have surplus funds worth Rs.2.5 lakh crore.

Clearance issues

Besides, issues related to environmental clearances, selection of independent directors, autonomy and empowerment of CPSEs, their disinvestment plans and professionalism in boards were discussed. Addressing the gathering at the seminar, Standing Conference of Public Enterprises (SCOPE) Director-General U. D. Choubey asked SLPEs to assimilate ideas with professional management of Central PSUs to enhance the share in their respective States. — PTI

The PSUs were clearly told that either they invest their huge surplus or pay it back as special dividend to the exchequer