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‘PSEs have established their credentials’

india Updated: Apr 04, 2011 01:31 IST

Standing Conference of Public Enterprises (SCOPE), the apex organisation of public Sector Enterprises (PSEs), for the first time in 2010 decided to observe April 10 as public sector day which also coincides with formation day of SCOPE. U.D. Choubey, Director General, SCOPE, spoke to Hindustan Times on a range of issues. Excerpts:

How has been the performance of public sector undertakings in post-reform period?
Central public sector undertakings have established their credentials successfully — first by showing resilience after liberalisation of Indian economy and now by helping the country maintain the growth path during the recent turbulence in world economy.

How has been the growth in financial terms?
In financial terms, in the post-reforms period ending 2009-10, net worth of CPSEs expanded over 10 times and profit after tax by 40 times. This was achieved with a relatively modest expansion in equity capital by a multiple of 3.4. During 2009-10, the net profit of 158 profit making CPSUs crossed the R1 lakh crore-landmark, with an aggregate net profit of R1,08,435 crore. Overall net profit of all 217 CPSUs stood at R92,593 crore compared to R83,867 crore during 2008-09 showing an increase of 10.40 %. The net profit to number of employees in 2009-10 is over R6.21 lakh per employee of the 217 operating CPSUs which was R5.47 lakh in the previous year and mere R10,239 in 1991.

What are your plans for the Public Sector Day?
This year, the public sector fraternity will have a week-long public sector day celebrations commencing on April 10. The President has kindly consented to be the chief guest at the main function on April 11.

Can you share details of the function that you have planned and new initiatives that are to be launched on the occasion?
The main function will be synchronised with the award giving ceremony of SCOPE Meritorious Awards for significant contribution in specialised fields.

Maharatna central public sector undertakings — Indian Oil Corporation, NTPC Limited, Oil & natural Gas Corporation, and Steel Authority of India Ltd will also be felicitated by the chief guest.

Considering the invaluable contribution made by public sector enterprises in the socio-economic development of the country, SCOPE proposes to launch a flag signifying harmony among all public sector undertakings and exemplifying their shared goals, strength, ambitions as well as their ideals.

A study ‘The Public Sector - A Symbol of Corporate Excellence’, and a product directory which will provide consolidated information regarding the products and services to national and
international buyers shall also be released. These will be in addition to the performance folder, posters, souvenirs,
supplements of PSEs, among others, to be brought out on the occasion.

Montek Singh Ahluwalia, deputy chairman of Planning Commission shall speak on ‘Promoting Excellence in Public Sector Enterprises’.