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Wednesday, Jun 29, 2011
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HYDERABAD: The Standing Conference of Public Enterprises (SCOPE), an apex organisation of public sector enterprises, is in the process of laying down a system of accreditation and evaluating them on the basis of performance.
At a press conference here on Tuesday SCOPE Director-General U.D. Choubey said once they firmed up the matrix to rate the 249 public sector undertakings (PSU), they would seek the government's approval to go ahead.
Once the evaluation protocol is put in place, investors will be able to measure the degree of professionalism in the board of the PSUs and their functioning.
This will help them make informed, investment decisions, because the rating given by SCOPE adds weight and recognition with the nod from government, he said.
He said the OECD countries already have such a grading system for their government-owned companies and said SCOPE will look into the system and draw inputs to adapt it into the Indian situation. Also SCOPE is organising training programmes for directors on the board of PSUs, he said.
Mr. Choubey said currently there are about 300 vacancies just for Independent Directors, while 69 top positions in the 249 PSUs are yet to be filled up.
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