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Govt issues norms for time-bound closure of CPSEs

Faced with inordinate delay in closing down sick CPSEs, the government has come out with timelines for disposal of movable assets, sale of land and retrenchment of employees not opting for voluntary retirement.

Listed PSUs should interact regularly with investors: DoD

Listed PSUs should interact regularly with investors: DoD

Taking a leaf out of private firms, the Department of Disinvestment (DoD) wants listed PSUs to be more proactive in investor contact and keep them updated on company plans so as to facilitate a share sale on short notice to capture market highs.

NHPC seeks Navratna status, submits proposal to govt

State-owned NHPC, which has embarked on ambitious expansion plans, has approached the government seeking 'Navratna' status that would provide the power producer more leeway in investment decisions.

DPE opposes performance related pay for CIL loss-making arms

Department of Public Enterprises has strongly objected to the Coal Ministry's proposal on performance related pay for executives of CIL's subsidiaries from its consolidated account, stating that it will have wider ramifications as other PSUs may seek similar dispensation.

DPE to send PSUs reforms recommendations to Cabinet this month

The Department of Public Enterprises (DPE) will move a Cabinet note on reforms for state-owned companies, including three-year fixed tenure for CPSEs heads, by end of this month.

High-Power Committee may consider new MoU norms this month

The Department of Public Enterprises (DPE) has prepared the draft Memorandum of Understanding (MoU) norms based on the recommendations of a Working Group on MoU norms for Central Public Sector Enterprises (CPSEs), which was headed by P G Mankad.

Plan for swift action against PSU officials for wrong doings

The Department of Public Enterprises (DPE) will soon move a Cabinet note proposing swift action against PSU officials indulging in malafide actions or wrong doings.

Targets for PSUs: New norms ready, HPC to take final call

The MoUs are signed between the Central Public Sector Enterprises (CPSEs) and their administrative ministries/departments and is facilitated by DPE.

After Scooters India, govt may revive more sick PSUs: DPE Secy

After clearing the financial package for ailing Scooters India, the central government may take up another 10 to 11 sick PSUs for reviving them, a senior official said on Friday.

Negative marking for CPSEs not complying with corp governance

Central Public Sector Enterprises (CPSEs) that fail to comply with corporate governance norms will get negative marking from next fiscal, Department of Public Enterprises Secretary O P Rawat said Thursday.

HMT Ltd, Hindustan Cables to be revived soon: DPE Secy

The Board for Reconstruction of Public Sector Enterprises (BRPSE) has recommended revival of these ailing public sector units.

Govt introduces norms for independent directors on CPSE boards

The government has come out with a set of guidelines for independent directors on boards of PSUs, defining their roles and responsibilities aimed at improving corporate governance in state-owned companies.

'Operational flexibility norms for PSUs to be sent to Cabinet'

The Department of Public Enterprises may soon send to the Cabinet for consideration, a proposal on new norms aimed at providing greater operational flexibility to the PSUs in achieving annual targets.

Govt may reserve shares for NMDC employees under auction route

The Department of Public Enterprises has proposed a cap of Rs two lakh for allotment of shares to each employee of NMDC at the time of proposed 10 per cent government stake sale through the auction route.

DPE asks administrative ministries to review Miniratna tag

The Department of Public Enterprises has asked 25 administrative ministries of central PSUs to ensure that Miniratna units under their control continue to fulfill the criteria for the status.

Govt to soon come out with new MoU norms for CPSEs

The government is expected to come out with fresh set of guidelines for central public sector enterprises (CPSEs) soon to enable them greater operational flexibility in achieving annual targets.

Guidelines on investments of surplus funds by CPSE's soon

The government is likely to finalise the new guidelines on investment of surplus funds of cash-rich central public sector enterprises (CPSEs) within a fortnight, a senior official said.

DPE asks PSUs to gear up for buyback of shares

In order to help the government meet its disinvestment target of Rs 30,000 crore next fiscal, the Department of Public Enterprises has asked listed state- owned companies to gear up for buyback of their shares.

Indian missions to help PSUs' hunt for global assets

Indian missions abroad will be actively involved to help the government-owned firms realize their global ambitions to acquire critical raw material assets overseas, the Department of Public Enterprises (DPE) has said.

Several faltering PSUs may lose Miniratna status

Several PSUs like BSNL, HMT, Hindustan Paper and Hindustan Newsprint may lose Miniratna' status, as they have slipped on performance parameters set to retain the coveted position linked with their autonomy.