PGCIL, NALCO to enter Navratna club soon
PGCIL and NALCO are among four public sector undertakings expected to join the Navratna list soon, with the government waiting for the firms to appoint the requisite number of non-official directors.
By PTI |
NEW DELHI: PGCIL and NALCO are among four public sector undertakings expected to join the Navratna list soon, with the government waiting for the firms to appoint the requisite number of non-official directors.
The four companies include PowerGrid Corporation of India, National Aluminium Company Ltd, National Mineral Development Corporation Ltd and Rural Electrification Corporation Ltd.
"Four more companies will be conferred the Navratna status once they successfully fulfil the criteria of appointment of non-official directors on their board," Heavy Industries and Public Enterprises Minister Sontosh Mohan Dev said today.
"The emphasis here is mainly on the professionalisation of boards," he said.
The companies have already fulfilled eight of the nine criteria specified by the government for obtaining the Navratna status. Some of the criteria include to incur capital expenditure, technology joint ventures or alliances, to effect organisational restructuring, opening of offices in India and abroad and raising capital from domestic and international markets.
Three PSUs - Power Finance Corporation, Hindustan Aeronautics and Bharat Electronics -- were awarded with the Navratna status in June this year.
Earlier nine companies namely ONGC, SAIL, BHEL, GAIL, IOC, NTPC, BPCL, HPCL, MTNL constituted Navratnas. This number is expected to rise to sixteen now.
The four companies include PowerGrid Corporation of India, National Aluminium Company Ltd, National Mineral Development Corporation Ltd and Rural Electrification Corporation Ltd.
"Four more companies will be conferred the Navratna status once they successfully fulfil the criteria of appointment of non-official directors on their board," Heavy Industries and Public Enterprises Minister Sontosh Mohan Dev said today.
"The emphasis here is mainly on the professionalisation of boards," he said.
The companies have already fulfilled eight of the nine criteria specified by the government for obtaining the Navratna status. Some of the criteria include to incur capital expenditure, technology joint ventures or alliances, to effect organisational restructuring, opening of offices in India and abroad and raising capital from domestic and international markets.
Three PSUs - Power Finance Corporation, Hindustan Aeronautics and Bharat Electronics -- were awarded with the Navratna status in June this year.
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Earlier nine companies namely ONGC, SAIL, BHEL, GAIL, IOC, NTPC, BPCL, HPCL, MTNL constituted Navratnas. This number is expected to rise to sixteen now.
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