Cabinet decision on Maharatna status likely soon: Deshmukh
Vilasrao Deshmukh on Saturday said the Cabinet is likely to take up the proposal to grant Maharatna status to the blue-chip Central PSUs at its next meeting.
Mumbai: Union Heavy Industries and Public Enterprises Minister Vilasrao Deshmukh on Saturday said the Cabinet is likely to take up the proposal to grant Maharatna status to the blue-chip Central PSUs at its next meeting.
"The matter was not taken up at the last Cabinet meeting. Maybe in the next Cabinet meeting, that decision will be taken up. The eligible CPSUs will be getting that special status," Deshmukh told reporters here today.
CPSUs with annual net profit of over Rs 5,000-crore will be eligible for the Maharatna status, which will give them more functional autonomy, including for increased investments.
To give more autonomy to CPSUs, the Department of Public Enterprises had proposed that the Cabinet invest special status to select CPSUs like ONGC, SAIL, BSNL, NTPC and CIL.
Deshmukh said he is hopeful that NTPC would soon get the special status once the proposal is cleared by the Cabinet.
"I hope that very soon NTPC will get the status. NTPC is one of those companies which is be eligible for that status," the minister said.
The Government had eralier awarded Navratna status and mini-Ratna status to well-performing CPSUs. There are 18 Navratna firms, which include NTPC, BHEL, BPCL, GAIL, ONGC and MTNL. The Government has also allowed mini-Ratna status to nearly 41 PSUs, which include Chennai Petroleum Corporation, Goa Shipyard and Container Corporation of India, amongst others.