PSUs encouraged to get listed: Pranab
The government today said it encourages listing of public sector units on stock markets, and is committed to giving them flexibility and autonomy.business Updated: Sep 13, 2010 23:34 IST
The government on Monday said it encourages listing of public sector units on stock markets, and is committed to giving them flexibility and autonomy.
"The government is encouraging the listing of PSUs on stock markets as this would unlock the true value of a company, improve its corporate governance standards and also help it in raising resources for funding future expansion plans," Finance Minister Pranab Mukherjee said at an award function of the Dainik Bhaskar group.
He said the government is committed to giving PSUs the flexibility and autonomy they require to operate effectively in a competitive environment.
"We have delegated more powers to the boards to Navaratna and Miniratna companies in order to facilitate further improvement in their performance," Mukherjee said.
He added that the government has also implemented revised salaries for executives of PSUs and introduced innovative measures such a performance related pay.
"We expect all this to lead to sound practices for the development of human resources which are of critical importance in today's competitive environment," he said.