Govt allows private sector candidates' entry in PSUs
In a move to facilitate entry of private sector players into central public sector enterprises for a period of five years, the government on Thursday gave its approval to a proposal to amend the Resolution constituting Public Enterprise Selection ...
By PTI |
NEW DELHI: In a move to facilitate entry of private sector players into central public sector enterprises for a period of five years, the government on Thursday gave its approval to a proposal to amend the Resolution constituting Public Enterprise Selection Board.
"The amendment will allow making the best talent available to Central PSUs and would infuse more transparency and objectivity into the selection in PSUs," an official spokesperson told reporters after the meeting of the Cabinet.
Candidates from state public sector enterprises and private sector, subject to fulfilling the eligibility criteria, will be considered as non-internal candidates along with with those of other public sector enterprises.
The amendment will also allow the Department of Personnel and Training to lay down modalities for overseeing the prescription of recruitment norms by PESB.
The existing selection policy laid down in resolution dated March 3, 1987, covers only candidates from the Central PSUs.
In another decision, the Cabinet approved the proposal to raise the authorised capital of Food Corporation of India to Rs 3,500 from Rs 2,500 crore, a move that will allow FCI to raise more funds from the market.
The enhancement of the authorises capital of FCI would also enable the Ministry of Consumer Affairs, Food and Public Distribution to release funds allocated by the Planning Commission under the Plan Scheme for cost ruction of storage godowns in the North East, Jammu and Kashmir, Himachal Pradesh and other states, the spokesperson added.
"The amendment will allow making the best talent available to Central PSUs and would infuse more transparency and objectivity into the selection in PSUs," an official spokesperson told reporters after the meeting of the Cabinet.
Candidates from state public sector enterprises and private sector, subject to fulfilling the eligibility criteria, will be considered as non-internal candidates along with with those of other public sector enterprises.
The amendment will also allow the Department of Personnel and Training to lay down modalities for overseeing the prescription of recruitment norms by PESB.
The existing selection policy laid down in resolution dated March 3, 1987, covers only candidates from the Central PSUs.
In another decision, the Cabinet approved the proposal to raise the authorised capital of Food Corporation of India to Rs 3,500 from Rs 2,500 crore, a move that will allow FCI to raise more funds from the market.
ADVERTISEMENT
The enhancement of the authorises capital of FCI would also enable the Ministry of Consumer Affairs, Food and Public Distribution to release funds allocated by the Planning Commission under the Plan Scheme for cost ruction of storage godowns in the North East, Jammu and Kashmir, Himachal Pradesh and other states, the spokesperson added.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
