Roongta panel report suggests listing of 50 PSUs in 5 yrs

NEW DELHI: The government should look at listing 50 state-owned companies in the next five years, a report by a Planning Commission committee on reforms in CPSEs has said.

In a report to the Planning Commission, the committee headed by former SAIL Chairman S K Roongta has suggested that at least 30 Central Public Sector Enterprises (CPSEs) be listed in three years, going up to 50 over five years.

It wants the government to draw up year-wise schedule for the listing of CPSEs on a rolling basis for the next five years. Already, more than 50 PSUs, including SAIL and CIL, are listed on the BSE.

Overall, the committee examined issues such as corporate governance, effective partnership with private sector and has chalked out a plan for further development of PSUs.

The draft report was submitted to the Department of Public Enterprises (DPE) last year for finalising these recommendations.

"We have finalised the recommendations and sent the report to the Cabinet few days back. The report is likely to be taken up by the Cabinet in the next one month's time," Secretary in DPE O P Rawat told reporters on the sidelines of an Assocham function here.

The committee has given 40 suggestions which include better corporate governance, more autonomy to boards of PSUs, better resources utilisation and transparency, Rawat said.

Planning commission member Arun Maira said PSUs should create a role model in best use of the available land with them and have more efficient management.

Also, he said, there is a greater need to harness domestic mineral resources rather than simply focusing on imports.