By the Way

Snafu in PSUs

img-dec2015-29Public Sector Undertakings (PSUs) are crucial for any government but it’s very difficult to understand their complete network and they are dealt with by related domain ministries. The Modi government has a massive restructuring and disinvestment plan for PSUs. Approximately 50 of them can sustain themselves, the rest are like the burden on Atlas’ shoulders. But the government is cautious regarding those PSUs that need a Chairman and Managing Director (CMD). It appears there is a crisis of competent and worthy people to appoint. The National Mineral Development Corporation, the Steel Authority of India and NTPC are examples of important PSUs which are headless. These are massive PSUs with budgets equalling the national budgets of some of the tiny European countries. Functioning without a head or led by an officer with additional charge affects the performance of the organisation. Major policy decisions are not being taken. And this impact travels down the line in the organisation. Though CMDs for NMDC and SAIL have been selected by the PESB, their files are awaiting approval for months. Nothing can be done to speed it up. The PM cannot be directly approached for this. Sorry status quo.

VOL. 9, ISSUE 9 | DEC, 2015

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