Public sector needs more support in globalised environment: Praful Patel
New Delhi, Mar 9 (ANI): Minister for Heavy Industries and Public Enterprises Praful Patel today said that in the globalised environment, the public sector has to be given more support to meet all challenges globally.
During the meeting with the Chief Executive Officers of the Maharatna, Navratna and Miniratna Central Public Sector Enterprises (CPSEs), Patel said: "There needs to be a change of mindset in the way we engage with the public sector and in the way that deal with them."
Patel further assured the PSEs that the guidelines of the Department of Public Enterprises will be amended where required to facilitate the working of the Public Sector. He also said that he was in favour of a time-bound appraisal of the contribution of the Directors to the Company.
He stressed upon a fixed and well chalked out succession plan for CEOs and chairpersons of companies in a way that the next incumbent is in place before and acting CMD demits office.
Patel ensured the CPSEs that the scope of the Maharatnas would be enlarged so that more companies could come under its ambit and be eligible to the privileges.
"The scope of Navratnas would also be increased so that they could qualitatively and quantitatively enlarge their field of work," he added.
Admitting that talent drain was a problem in PSUs, Patel said: " The Ministry, with inputs from SCOPE, would look into ways and means to address this issue of reluctance to work in the Public Sector by means of incentivisation not only to attract talent but to retain the existing and motivating them to give their best.
Patel also ensured that the Government would look into broader bands for PSE targets to help them to retain their status.
He said that in the next three to six months a lot of issues of the public sector will be looked into and addressed and the dialogue between the Government and the public sector will continue in a sustained basis. (ANI)
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