Need for Continued Adherence to Good Corporate Governance : Deshmukh

MoU and SCOPE Excellence Awards Presented

The Prime Minister Dr. Manmohan Singh while presenting the SCOPE Awards for Excellence and outstanding contribution to the Public Sector Management for 2008-09 and MoU Awards for Excellence in performance for 2008-09 has complemented the award winning PSUs for their performance. 

Shri Vilasrao Deshmukh, Minister of Heavy Industries and Public Enterprises has called on the Central Public Sector Enterprises to enhance their technological edge and productivity for ensuring success in the present global arena. Addressing at the MoU and SCOPE Excellence Awards ceremony here today, the Minister stressed on the need for continued adherence to good corporate governance practices as well as increased sensitivity to social obligations. While complementing the Department of Public Enterprises for taking initiatives in issuing comprehensive guidelines for the CPSEs, he appreciated the efforts of SCOPE for organizing programmes on issues of topical importance for the benefit of executives of CPSEs. Shri Arun Yadav, Minister of State for Heavy Industries & Public Enterprises, Dr. Nitish Sengupta, Chairman BRPSE, Shri Bhaskar Chatterjee, Secretary, Department of Public Enterprises and Chief Executives of various Central Public Sector Enterprises were also present on the occasion. 

While thanking the Hon'ble Prime Minister for his presence on the occasion of the presentation of the MoU Excellence and SCOPE Awards to select Central Public Sector Enterprises, Shri Deshmukh added that India will definitely lead the economic recovery and show the way out of the quagmire in which most economies around the globe find themselves. 

Shri Deshmukh further said that, "One of the important reasons, for the excellent performances of CPSEs during the recent years, has been the empowerment of the Boards of profit making CPSEs by the Government. The conducive policy framework laid down by the Government, has facilitated operational freedom to the CPSEs, enabling them to operate on commercial lines and enhance their performance. We will continue our march along with growth path and take appropriate initiatives for enhancing the competitive edge of our CPSEs". 

Congratulating the Chief Executives and employees of award winning CPSEs, Shri Deshmukh observed that "The experience with the MoU system as a performance management tool at the Central level has been extremely useful. We have extended the MoU system to all Central Public Sector Enterprises and have made the system more objective".