Executive board of Standing Conference for Public Enterprises (SCOPE) led by CS Verma, Chairman, SAIl met in Bangalore on Saturday. Key issues for enhanced functioning of CPSEs were deliberated during the meet which include, measures for enhanced autonomy to PSE boards, succession planning, talent management, and corporate governance.
The Board emphasised on measures for greater autonomy and efficiency of CPSEs through further reforms aimed at separating the management from ownership in these organisations. This was the need of the hour, keeping in view the challenges of the dynamic market conditions, they said.
Discussions in favour of a holding company to represent Government ownership to start with major CPSEs viz Mahartnas & Navratnas was emphasised upon. The concept of a holding company was discussed on lines already successfully operating globally, such as Temasek of Singapore which was incorporated in 1974 to hold and manage investments and assets previously held by the Singapore Government, leaving the Ministry of Finance to focus on its core role of policymaking and regulations.
In addition, further course of action was deliberated to set up a Public Sector Academy for training and capacity building of new recruits and refresher courses for middle-level executives of PSEs. SCOPE also decided to organise & facilitate an international tour to study the global best practices of managing State-owned enterprises in major economies like China and Singapore during this meet.
SCOPE is an apex body of public sector enterprises in the country, working relentlessly towards strengthening the cause of CPSEs. The highlights of performance and contribution of CPSEs was also circulated on the occasion which includes; a net profit of Rs 1.15 lakh crores in FY’13; Net Worth of Rs 8.67 lakh crores (as on 31st March, 2013) with an investment of Rs 8.51 lakh crore (as on 31st March, 2013).