The Hindu : Business : CVC, power PSUs interact for transparency, efficiency

Online edition of India's National Newspaper
Wednesday, Jun 04, 2008
ePaper | Mobile/PDA Version

Business

Business

CVC, power PSUs interact for transparency, efficiency

Sandeep Joshi

CVC officials assure PSU leaders of full cooperation
Jairam Ramesh to hold meetings with CAG and CBI also

NEW DELHI: Three or four public sector power companies could adopt a CVC-approved “Integrity Pact”— a vigilance tool promoted by Transparency International — which ensures transparency and competitiveness in procurement.

This is the first major impact of a meeting, facilitated by Union Minister of State for Power Jairam Ramesh, between the top bosses of the Central Vigilance Commission and a dozen public sector undertakings (PSUs).

“It will be for the time that a power-sector PSU adopts the Integrity Pact that will not only boost its image but also make it more transparent and efficient,” he told The Hindu.

Explaining the idea behind the meeting, the Minister said quick decision-making and faster implementation of projects were needed to accelerate growth, but the existing procedures sometimes hampered this process as the PSU bosses were reluctant to take decisions. They feared the three Cs — the CVC, the Comptroller and Auditor-General and the Central Bureau of Investigation. Such meetings would infuse confidence in the top PSU functionaries and help them work more efficiently.

He would soon hold such meetings with the CAG and the CBI also. Mr. Ramesh said the CVC clearly told the PSU leaders that they were there only to ensure policy implementation transparently. “Assuring them of full cooperation, CVC officials said they are not in favour of diluting transparency or the competitive bidding process. It is in favour of empowering PSU boards so that they can take decisions faster.” The CVC only wanted the PSUs to be clear about their decisions, which should be taken transparently.

The issues discussed by the heads of the National Thermal Power Corporation, NHPC Ltd, Bharat Heavy Electricals Limited and PFC, among others, were related to selection of consultants and choice of joint venture partners, expansion of projects, compensation and such other such matters which the PSU heads were not confident of handling, Mr. Ramesh said.

The coming years were crucial for the sector “as we need to add our power generation capacity very fast. We need to give more power and autonomy to all PSUs.”

Printer friendly page
Send this article to Friends by E-Mail

Business

News Update

Stories in this Section