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Salman Khurshid: Public sector firms may come under corporate affairs ministry

Corporate Affairs Minister Salman Khurshid said Saturday that his ministry is likely to take charge of the Department of Public Enterprises (DPE) in a bid to improve standards of corporate governance in government-owned companies.

The DPE, currently under the heavy industries ministry, is a nodal department for all central public sector enterprises (CPSEs) and formulates policies pertaining to performance evaluation, autonomy and financial delegation, personnel management and related areas of the CPSEs.
"Much of the work on corporate governance currently being done by my ministry is benefiting the private sector like in case of Satyam and it is being now felt that the benefits should accrue to the PSUs (public sector units) as well," he said on the sidelines of a meeting of the American Chamber of Commerce here.
Khurshid said that the proposal was mooted by the heavy industries ministry and if the department is transferred, it would lead to better co-ordination and efficient management of the PSUs. It would help the department by avoiding the duplication of work, he added.

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