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President gives away Scope Meritorious awards to public sector enterprises

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New Delhi (Nov. 5, 2014): The President of India, Shri Pranab Mukherjee presented the Standing Conference of Public Enterprises (SCOPE) Meritorious Awards today (November 5, 2014) at a function held in Vigyan Bhawan, New Delhi.

The Winners of the SCOPE Meritorious Awards were SAIL,BPCL, Indian Oil, HAL, BEL, PFC, NSKFDC. The Commendation Certificates were awarded to OIL, WAPCOS, IRCON, REIL and THDC. The President also felicitated EIL, NBCC and CONCOR, the new Navratna CPSEs.

Speaking on the occasion, the President complimented SCOPE for its initiative in instituting the SCOPE Meritorious Awards with the objective of identifying and recognizing outstanding performers in various segments of business activity. He also complimented the Department of Public Enterprises (DPE) and Standing Conference of Public Enterprises (SCOPE) for organizing the event which provides recognition to the efforts being made by CPSEs in a variety of areas such as Environmental Excellence & Sustainable Development; Corporate Governance; Corporate Social Responsibility & Responsiveness; Research and Development and Technology Development & Innovation.

The President made special mention of the ‘Make in India’ campaign which has recently been launched by Government to transform India into a truly world-class, global manufacturing hub and said that he believed that CPSEs have a vital role in making this a reality. He drew their attention on the need to innovate while doing business. He stated that an ever changing and dynamic business scenario throws up newer and complex challenges which call for innovative solutions.

The President said that the CPSEs have, over time, contributed greatly towards fulfilling their Corporate Social Responsibility obligations. They have actively partnered Government in implementing its social and economic policies. He was confident they would continue to take the lead in the ‘Swachh Bharat’ campaign and other socially oriented schemes being launched by the Government.

Speaking on the occasion Shri Anant Geete, Union Minister of Heavy Industries and Public Enterprises expressed his gratitude to President for presiding over the event. He said it was a reaffirmation of immense trust reposed by the policymakers on our Public Sector Enterprises.

The Minister said Central Public Sector Enterprises in India have been synonymous with industrial growth of the country. CPSEs have been augmenting the government resources through dividends, taxes and duties, etc. and thus playing the role of wealth generator for the government as well as our citizens. The Central Public Sector Enterprises have continued to perform well even during the post-liberalization period. The CPSEs have emerged stronger and more efficient in the face of increasingly competitive scenario and are now ready to become global entities. Infact, many CPSEs have already made successful global forays and many more are ready to spread their wings in new markets.

He said the excellent performance of CPSEs has been facilitated by the policy of empowerment of the Boards of profit making CPSEs. The empowerment policy framework through Maharatna, Navratna and Miniratna schemes has provided operational and financial delegation to the CPSEs enabling them to operate on commercial lines and enhance their performance.

Shri Geete also informed of granting of Navratna status to 3 more CPSEs, i.e. Container Corporation of India Limited, Engineers India Limited and National Buildings Construction Corporation Limited, enabling the Boards of these CPSEs to exercise wider delegated powers.

The present and emerging global economic order has brought out a number of opportunities be it public sector or the private sector companies. In my view survival and growth in the face of global competition is possible only by increasing our technological edge and improving productivity. We also need to build an increased social orientation into the operations of our CPSEs as mandated by the new provisions of the Companies Act, 2013 and also ensure continued adherence to good corporate governance practices.

The Minister also complemented SCOPE for their resourcefulness in organizing events and programmes for the betterment of cause of CPSEs. He expressed hope that hope that the management of CPSEs will continue to take proactive steps in improving the performance of their respective CPSEs and the Government as its part, will continue to extend requisite support to our CPSEs so that they can play an even bigger role in the

In his welcome address Shri P. Radhakrishnan, MoS Heavy Industries and Public Enterprises said there is no denying the fact that our Central Public Sector Enterprises (CPSEs) have played a key role in facilitating India’s economic and industrial development. It is highly satisfying to learn that the Central Public Sector Enterprises (CPSEs) have continued to deliver excellent results in the competitive business scenario. The performance of Central Public Sector Enterprises (CPSEs) can be gauged from the figures which speak for themselves.

Shri Radhakrishnan said , we have around 270 Central Public Sector Enterprises (CPSEs) having aggregate investment of more than Rupees Eight lakh fifty thousand crore and a turnover of more than Rupees Nineteen lakh forty five thousand crore for the year 2012-13. The total net profit of 229 operating Central Public Sector Enterprises (CPSEs) was more than Rupees One lakh fifteen thousand crore and it is heartening to note that these Central Public Sector Enterprises (CPSEs) contributed more than Rupees One lakh sixty two thousand crore to Central Exchequer by way of excise duty, customs duty, corporate tax, dividend, etc. during the year 2012-13. These figures show that our Central Public Sector Enterprises (CPSEs) have put in remarkable performance which needs to be recognized as is being done today.

He said the Central Public Sector Enterprises (CPSEs) have successfully faced various challenges since their inception from the time of independence of our country and it is our solemn obligation to ensure that they continue to grow and prosper as a strong and profitable public sector, which will ultimately result in overall development of the country.

The Awards Presentation Ceremony organized jointly by SCOPE and Department of Public Enterprises at Vigyan Bhawan, New Delhi. Other dignitaries who addressed the function were Shri C.S. Verma, Chairman, SCOPE and Dr. U.D. Choubey, Director General, SCOPE.