CPSE reforms: Decision on Roongta panel report in a month

NEW DELHI: The Centre is expected to take a decision within a month on Roongta committee recommendations on bringing reforms in central public sector enterprises (CPSEs).

"The government is considering (the recommendations of) that report and it is important also. We have not yet taken any decision," Minister of Heavy Industries and Public Enterprises Anant Geete said here.

He was speaking to reporters after inaugurating SCOPE's HR Summit here.

Asked by when a decision is expected on that report, he said: "Within a month. I am studying that."

Former SAIL Chairman S K Roongta-headed panel had submitted its report during the UPA regime in November 2011.

It has suggested that the government should look at listing 50 state-owned companies in next five years.

It wants the government to draw up year-wise schedule for the listing of CPSEs on a rolling basis for next five years.

Already, about 50 PSUs, including SAIL and CIL, are listed on the BSE.

The committee had given as many as 40 suggestions which include better corporate governance, more autonomy to Boards of PSUs, better utilisation of resources and transparency. It had also suggested fixing tenures of the Chairman & Managing Director (CMD) of state-owned companies.

The report had said that in the absence of adequate succession plan in many CPSEs, several competent executives don't get considered for these positions.

Further, talking about Human Resource management, the Minister said HR managers play an important role in a company's development.

On account of increasing competition from countries like China and South Korea, HR professionals of PSUs need to enhance their role, he added.