New Delhi: Mr. Ashok Chawla, Finance Secretary, Government of India sharing his thoughts on the role PSEs focused on the role they would play in developing the economic landscape, while developing themselves in the process. Mr Chawla said, “The Indian economy has seen PSEs playing a pioneering role in development and PSEs will play a far bigger role in the times to come.” He added that PSEs contribute in a big way to the strength of the Indian economy.

Mr. O.P. Bhatt, Chairman, SBI stated that the fact that PSEs generate value for the nation needs to be recognized broadly. Stated Mr Bhatt, “The objective of PSEs is very clear as they look to generate employment, support the growth of the country and create goods and services and ensure their distribution as well. ONGC being a good example of the same.” He called for creation of a comprehensive “Index” which would measure “value creation” which could be used by PSEs and Private Sector.

Another aspect that was brought out in the session is the talent pool created by PSEs which is value creation in terms of producing skilled manpower and workforce for the country. Mr. B.P.Rao, CMD, BHEL said, “PSEs have played a major role in improving our quality of life. PSEs serve as a balance in regional development and their presence plays a major role in competitive pricing.” Mr Rao also insisted that PSEs be allowed more power and independence in day- to-day operations, which will only result in much further value creation by these enterprises.

Mr. R.S. Sharma, Chairman, Apex Council of PSEs, CII said, “PSEs today have crossed national boundaries and have become global entities. PSEs represent the best practices constituting transparency, accountability, governance and financial disclosures.”