Bhubaneswar: The state government Sunday informed the Assembly that it has been planning to set targets for the state-run Public Sector Undertakings (PSUs) to make them viable and profitable.
The response from the government came when a query was raised through an un-starred question. Responding to the query, Ashok Chandra Panda, Minister of State for Public Enterprises told the Assembly through a written statement about the steps taken by the government to improve the efficiency of the PSUs.
The minister said that the department has started signing a memorandum of undertakings (MoUs) with the PSUs, with their administrative departments, with monitorable targets. Induction of strategic investors in the loss-making units for better functioning of the PSUs has also been planned, he added.
“We have planned rightsizing of manpower as per the requirement of the PSUs by introducing Model Voluntary Retirement Scheme/Model Voluntary Separation Scheme for the State PSUs. In the process, the state is providing financial aid to the state PSUs to implement their voluntary retirement schemes, which should be in line with the schemes of the state government,” he said.
He also talked about the implementation of the corporate governance manual, pursuing a clear policy framework by categorising state PSUs. He said that decision has also been taken to induct independent directors into the Board of Management of the state PSUs.
“Public Enterprises Selection Board is in place to select professionals from the open market in the top level managerial and Board level positions of the state PSUs for quality management,” he said.
According to the minister, the state has a total of 36 government PSUs and of these, 26 are in profit, nine in loss and one reporting no profit no loss.