Showing posts with label PSU. Show all posts
Showing posts with label PSU. Show all posts

Monday, October 11, 2010

Time limit for framing of Rules and Regulations on conversion of Government Department into PSUs/autonomous/statutory body



No.AB.14017/37/2009-Estt. (RR)
Government of India
Ministry of Personnel, Public Grievances & Pensions
Department of Personnel & Training


North Block, New Delhi
Dated the 8thOctober 2010



OFFICE MEMORANDUM


Subject:   Time limit for framing of Rules and Regulations on conversion of Government Department into PSUs/autonomous/statutory body



            The undersigned is directed to refer to the above subject and to state that the instructions on matters relating to regulation of service conditions of Government employees on transfer to autonomous organizations have been issued by the Department of Pension and Pensioners' Welfare. The provisions included in the relevant portion of Rule 37 (A) of the Central Civil Service (Pension) Rules, 1972 refers.

2. This Department has examined issues pertaining to service conditions,promotion / confirmation, etc. in respect of the deemed deputationists on a reference received from the administrative Ministries. It has been decided that in such cases where there is a conversion of a Government Department into PSUs/autonomous/statutory body, there must be a time frame within which a new body shall frame its rules and regulations. At the end of this period, all employees on deemed deputation should have opted either to get permanently absorbed in the new organization or revert to the Government. A maximum period of 5 years for framing of rules and another 2 years for phasing out repatriation to those opting to come back to has been prescribed. All the Ministries/Departments are accordingly advised to adhere to the time frame whenever a proposal for transfer of employees is considered as above.



s/d
(Smita Kumar)
Director (Estt.I)



www.persmin.gov.in

Wednesday, October 6, 2010

Major trade unions to hold march to Parliament on Feb 23



Major trade unions to hold march to Parliament on Feb 23

Major trade unions barring BJP-affiliate BMS today decided to hold a march to Parliament ahead of the Budget session next year to protest Government's "inaction" in checking price rise, violation of labour laws and disinvestment of profitable PSUs.

The march would be organised on February 23 next year.

At a meeting chaired by INTUC president G Sanjeeva Reddy, top trade union leaders decided to "further intensify their movement" as the Government had not taken "any steps to resolve the demands of the people and workers," AITUC general secretary Gurudas Dasgupta told PTI.

He said the meeting congratulated the working class for the "historic" general strike on September 7 to press for Government action in arresting inflation, disinvestment of PSUs and to check violation of labour laws.



Source: PTI

Monday, January 11, 2010

Govt to identify more PSUs for selloff for next 2 years



After the planned divestment in four more public sector enterprises this fiscal, the Centre will identify more candidates for public offers for the next two years.

The Government is also planning to change the criteria of appointing investment bankers so that only those advisors with deep-pockets do not qualify for this purpose, an official close to the development said.

The Government plans to divest stakes in NTPC in the last week of January or early February, followed by REC just before the Budget (likely on 26th February), NMDC by 10th March, and Satluj Jal Vidyut Nigam by the end of March, which will together fetch around Rs 30,000 crore to the Exchequer.

"After we are through with these disinvestment plans, we will identify public sector enterprises where the Government could offload its stakes in the next two years," the official informed.

The Disinvestment Department has already asked 32 nodal ministries to identify state-run firms where the government stake could be sold, a senior official had said earlier.

As per the recently cleared criteria by the Cabinet, around 60 PSUs, including MMTC, BSNL, Neyveli Lignite Corp, Engineers India, State Trading Corp, Rashtriya Chemicals and Fertilisers, National Fertilisers and Andrew Yule, are eligible for stake sale.

Also, the Department will approach the Central Vigilance Commissioner to allow it to change the criteria of choosing investment bankers from just cost-basis to quality-cum-cost basis, the official said.

Currently, investment bankers are selected on the cost basis--the one qualifying the technical bid and quoting the lowest cost is selected as advisors, the official said.

The new criteria, if accepted, will assign weights to the track record of the investment bankers, including their experience, and match them with their costs, they added.

The Government has already appointed ICICI Securities, JP Morgan, Citi, and Kotak as investment bankers for the NTPC follow-on issue.

Six leading bankers--Kotak Mahindra, Citigroup, RBS Equities, UBS Securities, Morgan Stanley, and Edelweiss Capital are also learnt to have been shortlisted for managing the NMDC offer.

The Cabinet had earlier asked all listed profitable CPSUs to have public holding of at least 10 percent in them. It had also asked profitable unlisted PSUs to hit the capital markets. This makes around 60 PSUs eligible for disinvestment.

The listed CPSUs that are making profits and have public holding of under 10 percent include trading firm MMTC, mining major NMDC, Neyveli Lignite Corporation, Engineers India, State Trading Corporation, Rashtriya Chemicals and Fertilisers, National Fertilisers and Andrew Yule.

At present, the public holdings in these companies range from 0.67 percent in MMTC to about 9.6 percent in Engineers India.

This fiscal, the Government had already divested its stake in NHPC and Oil India.

Tuesday, March 31, 2009

Govt clears further pay hikes for salary PSU officers



Conceding to the demand from officials of public sector undertakings, the government today announced a further hike of up to 20 per cent in pay packets of about four lakh executives.

The improvement is over and above the pay package notified by the government in November last year, which prompted officers, particularly in the oil sector, to take to the streets.The decision for bettering the pay packages just ahead of the general elections was taken after government took the clearance from the Election Commission.

Asked about the total benefits to the officers and non-unionised supervisory staff after the revision, Home Minister P Chidambaram, who briefed on Cabinet decisions, said it would depend on individual PSUs.Excluding superannuation benefits, on a basic salary of Rs 100 an officer will now draw Rs 370.48 as against Rs 351.12 that was approved last year.
Source: PTI

Tuesday, March 10, 2009

Turnover of central PSUs up 36% in April-Sep



The state-owned companies have performed well during the first half of the current fiscal recording an impressive increase of about 36 per cent in turnover.
"As per the information received from, Central Public Sector Enterprises, the turnover (during April-September 2008-09) is likely to grow by about 36 per cent over the corresponding period last year," according to the minister of heavy industries and public enterprises, Santosh Mohan Dev.
This is significant as the turnover of the CPSEs during the whole of 2007-08 went up by 12.13 per cent to Rs 10.82 lakh crore (Rs 10.82 trillion).
The 36 per cent increase in turnover recorded by the central PSUs during the first half does not reflect the impact of the global financial meltdown on the performance of the state-owned companies. The impact of the financial crisis, which hit the world in mid-September following collapse of iconic investment banker Lehman Brothers will become manifest during the second half of the fiscal.
Describing the performance of the CPSEs encouraging, Dev in his foreword to the Public Enterprises Survey 2007-08, expressed the confidence that "the CPSEs would continue to play an important role in helping the country to achieve a high growth rate in the years to come". Noting that oil market companies faced a difficult year on account of spike in crude prices in the international market, Dev said, "The share of OMCs in the total turnover of all CPSEs stood at 54 per cent in 2007-08."
The CPSEs, he added, "served well the macro-economic objectives of low and stable prices, high economic growth and regional development."
The minister further said "some of the shell companies, floated by public sector financial companies/CPSEs have been successful in attracting private sector into the ultra mega power projects with investments in the magnitude of more than Rs 10,000 crore (Rs 100 billion)." The CPSEs, the minister said, are implementing 58 mega (investment of more than Rs 1,000 crore or Rs 10 billion) and 32 major projects (investment between Rs 100 crore or Rs 1 billion and Rs 1,000 crore or Rs 10 billion) in the power sector.
While the number of profit making CPSEs went up from 154 in 2006-07 to 159 companies in 2007-08, the number of loss making state-owned companies declined to 54 from 60 during the same period, he added.
The profits of the central PSUs which are not in the red, he said, increased to Rs 91,062 crore (Rs 910.62 billion) during 2007-08 from Rs 89,578 crore (Rs 895.78 billion) in the previous fiscal. The losses of the central PSUs were up at Rs 11,332 crore (Rs 113.32 billion) during the year as compared to Rs 8,457 crore (Rs 84.57 billion) during 2006-07.
Source: PTI

List of Central Public Sector Enterprises :-

Central Public Sector Enterprises, total number of units 189 as follows...

  • AIR INDIA LTD.
  • AIRLINE ALLIED SERVICES LTD.
  • AIRPORTS AUTHORITY OF INDIA
  • ANDREW YULE & COMPANY LTD.
  • ANTRIX CORPORATION LTD.
  • ARTIFICIAL LIMBS MFG. CORPN. OF INDIA
  • BALMER LAWRIE & CO. LTD.
  • BBJ CONSTRUCTION COMPANY LTD.
  • BENGAL CHEMICALS & PHARMACEUTICALS LTD.
  • BHARAT BHARI UDYOG NIGAM LTD.
  • BHARAT COKING COAL LTD.
  • BHARAT DYNAMICS LTD.
  • BHARAT EARTH MOVERS LTD.
  • BHARAT ELECTRONICS LTD.
  • BHARAT HEAVY ELECTRICALS LTD.
  • BHARAT HEAVY PLATE & VESSELS LTD.
  • BHARAT PETROLEUM CORPN. LTD.
  • BHARAT PUMPS & COMPRESSORS LTD.
  • BHARAT REFRACTORIES LTD.
  • BHARAT SANCHAR NIGAM LTD.
  • BHARAT YANTRA NIGAM LTD.
  • BHARATIYA NABHIKIYA VIDYUT NIGAM LTD.
  • BIECCO LAWRIE LTD.
  • BONGAIGAON REFINERY & PETROCHEMICALS LTD.
  • BRAHMAPUTRA VALLEY FERTILIZER CORPN.
  • BRAITHWAITE & CO. LTD.
  • BRIDGE & ROOF CO.(INDIA) LTD.
  • BROADCAST ENGG.CONSULTANTS INDIA LTD.
  • BURN STANDARD COMPANY LTD.
  • CEMENT CORPN. OF INDIA LTD.
  • CENTRAL COALFIELDS LTD.
  • CENTRAL COTTAGE INDUSTRIES CORPN. OF INDIA LTD.
  • CENTRAL ELECTRONICS LTD.
  • CENTRAL INLAND WATER TRANSPORT CORPN. LTD.
  • CENTRAL MINE PLANNING & DESIGN INSTITUTE LTD.
  • CENTRAL WAREHOUSING CORPN.
  • CHENNAI PETROLEUM CORPORATION LTD.
  • COAL INDIA LTD.
  • COCHIN SHIPYARD LTD.
  • CONTAINER CORPORATION OF INDIA LTD.
  • COTTON CORPN. OF INDIA LTD.
  • DONYI POLO ASHOK HOTEL LTD.
  • DREDGING CORPN.OF INDIA LTD.
  • EDUCATIONAL CONSULTANTS ( INDIA ) LTD.
  • ELECTRONICS CORPN. OF INDIA LTD.
  • ENGINEERING PROJECTS(INDIA) LTD.
  • ENGINEERS INDIA LTD.
  • ENNORE PORT LTD.
  • EXPORT CREDIT GUARANTEE CORPN.OF INDIA LTD.
  • FCI ARAVALI GYPSUM & MINERALS(INDIA) LTD.
  • FERRO SCRAP NIGAM LTD.
  • FERTILIZER CORPN. OF INDIA LTD.
  • FERTILIZERS & CHEMICALS (TRAVANCORE) LTD.
  • FOOD CORPN. OF INDIA
  • GAIL (INDIA) LTD.
  • GARDEN REACH SHIPBUILDERS & ENGINEERS LTD.
  • GOA SHIPYARD LTD.
  • HANDICRAFTS & HANDLOOMS EXPORTS CORP.INDIA LTD.
  • HEAVY ENGINEERING CORPN. LTD.
  • HINDUSTAN AERONAUTICS LTD.
  • HINDUSTAN ANTIBIOTICS LTD.
  • HINDUSTAN CABLES LTD.
  • HINDUSTAN COPPER LTD.
  • HINDUSTAN FLUOROCARBONS LIMITED
  • HINDUSTAN INSECTICIDES LTD.
  • HINDUSTAN LATEX LTD.
  • HINDUSTAN NEWSPRINT LTD.
  • HINDUSTAN ORGANIC CHEMICALS LTD.
  • HINDUSTAN PAPER CORPORATION LTD.
  • HINDUSTAN PETROLEUM CORPN. LTD.
  • HINDUSTAN PHOTO FILMS MANUFACTURING CORPN. LTD.
  • HINDUSTAN PREFAB LTD.
  • HINDUSTAN SALTS LTD.
  • HINDUSTAN SHIPYARD LTD.
  • HINDUSTAN STEEL WORKS COSTN. LTD.
  • HMT ( INTERNATIONAL ) LTD.
  • HMT BEARINGS LTD.
  • HMT CHINAR WATCHES LTD.
  • HMT LTD.
  • HMT MACHINE TOOLS LTD.
  • HMT WATCHES LTD.
  • HOOGHLY DOCK AND PORT ENGINEERS LTD.
  • HOOGHLY PRINTING COMPANY LTD.
  • HOTEL CORPN. OF INDIA LTD.
  • HOUSING & URBAN DEV. CORPN. LTD.
  • HSCC (INDIA) LTD.
  • I T I LTD.
  • I.B.P. CO. LTD.
  • INDIA TOURISM DEV. CORPN.LTD.
  • INDIA TRADE PROMOTION ORGANISATION
  • INDIAN AIRLINES LTD.
  • INDIAN IRON & STEEL CO. LTD.
  • INDIAN MEDICINES PHARMACEUTICAL CORPN. LTD.
  • INDIAN OIL CORPORATION LTD.
  • INDIAN OIL TECHNOLOGIES LTD.
  • INDIAN RAILWAY CATERING AND TOURISM CORPN. LTD.
  • INDIAN RARE EARTHS LTD.
  • INDIAN RENEWABLE ENERGY DEVT.AGENCY LTD.
  • INSTRUMENTATION LTD.
  • IRCON INTERNATIONAL LTD.
  • JUTE CORPN. OF INDIA LTD.
  • KARNATAKA ANTIBIOTICS & PHARMACEUTICALS LTD.
  • KOCHI REFINERIES LTD.
  • KONKAN RAILWAY CORPORATION LTD.
  • KUDREMUKH IRON ORE CO.LTD
  • M M T C LTD.
  • M S T C LTD.
  • MADRAS FERTILIZERS LTD.
  • MAHANADI COALFIELDLS LTD.
  • MAHANAGAR TELEPHONE NIGAM LTD.
  • MAHARASHTRA ELEKTROSMELT LTD.
  • MANGANESE ORE(INDIA) LTD.
  • MAZAGON DOCK LTD.
  • MECON LTD.
  • MILLENNIUM TELECOM LTD.
  • MINERAL EXPLORATION CORPN. LTD.
  • MISHRA DHATU NIGAM LTD.
  • MUMBAI RAILWAY VIKAS CORPORATION LTD.
  • NARMADA HYDRO ELECTRIC DEVELOPMENT CORPN. LTD.
  • NATIONAL ALUMINIUM COMPANY LTD.
  • NATIONAL BACKWARD CLASSES FINANCE & DEVELOPMENT CORP.
  • NATIONAL BLDG. CONSTN. CORPN. LTD.
  • NATIONAL FERTILIZERS LTD.
  • NATIONAL FILM DEV. CORPN. LTD.
  • NATIONAL HANDICAPPED FINANCE & DEVPT. CORPN.
  • NATIONAL HANDLOOMS DEVELOPMENT CORPORATION LTD.
  • NATIONAL HYDROELECTRIC POWER CORPN.LTD.
  • NATIONAL INSTRUMENTS LTD.
  • NATIONAL MINERAL DEVELOPMENT CORPORATION LTD.
  • NATIONAL MINORITIES DEVELOPMENT & FINANCE CORPORATION
  • NATIONAL PROJECTS CONSTRUCTION CORPN. LTD.
  • NATIONAL RESEARCH DEVELOPMENT CORPN. OF INDIA.
  • NATIONAL SAFAI KARAMCHARIS' FINANCE & DEVPT. CORPN.
  • NATIONAL ST FINANCE & DEVELOPMENT CORPORATION
  • NATIONAL SC FINANCE & DEVELOPMENT CORPORATION
  • NATIONAL SEEDS CORPN. LTD.
  • NATIONAL SMALL INDUSTRIES CORPN. LTD.
  • NATIONAL TEXTILE CORPN. (Holding Co.) LTD.
  • NATIONAL THERMAL POWER CORPORATION LTD.
  • NEPA LTD.
  • NEYVELI LIGNITE CORPN. LTD.
  • NORTH EASTERN ELECTRIC POWER CORPORATION LTD.
  • NORTH EASTERN REGIONAL AGRI. MARKETING CORP.LTD.
  • NORTHERN COAL FIELDS LTD.
  • NTC(DELHI,PUNJAB & RAJASTHAN) LTD.
  • NTC(MAHARASHTRA NORTH)LTD.
  • NTC(SOUTH MAHARASHTRA)LTD.
  • NTC(TAMILNADU & PONDICHERRY) LTD.
  • NTC(UTTAR PRADESH)LTD.
  • NTPC ELECTRIC SUPPLY COMPANY LTD.
  • NTPC HYDRO LTD.
  • NUCLEAR POWER CORPN. OF INDIA LTD.
  • NUMALIGARH REFINARY LTD.
  • OIL & NATURAL GAS CORPORATION LTD.
  • OIL INDIA LTD.
  • ONGC VIDESH LTD.
  • P E C LTD.
  • PAWAN HANS HELICOPTERS LTD.
  • PONDICHERRY ASHOK HOTEL CORPN. LTD.
  • POWER FINANCE CORPORATION
  • POWER GRID CORPORATION OF INDIA LTD
  • PRAGA TOOLS LTD.
  • PROJECTS & DEVELOPMENT INDIA LTD.
  • RAIL VIKAS NIGAM LTD.
  • RAILTEL CORPORATION INDIA LTD.
  • RAJASTHAN ELECTRONICS AND INSTRUMENTS LTD.
  • RASHTRIYA CHEMICALS AND FERTILIZERS LTD.
  • RASHTRIYA ISPAT NIGAM LTD.
  • RICHARDSON & CRUDDAS (1972) LTD.
  • RITES LTD.
  • RURAL ELECTRIFICATION CORPN. LTD.
  • SAMBHAR SALTS LTD.
  • SATLUJ JAL VIDYUT NIGAM LTD.
  • SCOOTERS INDIA LTD.
  • SEMI - CONDUCTOR COMPLEX LTD.
  • SHIPPING CORPORATION OF INDIA LTD.
  • SOUTH EASTERN COAL FIELDS LTD.
  • SPICES TRADING CORPORATION OF INDIA LTD.
  • SPONGE IRON INDIA LTD.
  • STATE TRADING CORPN. OF INDIA LTD.
  • STEEL AUTHORITY OF INDIA LTD.
  • TAMIL NADU TRADE PROMOTION ORGANISATION
  • TEHRI HYDRO DEVELOPMENT CORP. LTD.
  • TELECOMMUNICATIONS CONSULTANTS (INDIA) LTD.
  • TUNGABHADRA STEEL PRODUCTS LTD.
  • URANIUM CORPORATION OF INDIA LTD.
  • UTKAL ASHOK HOTEL CORPN. LTD.
  • WATER & POWER CONSULTANCY SERVICES (INDIA) LTD.
  • WESTERN COALFIELDS LTD.