New Delhi,
November 24, 2011
PSEs AHEAD IN ADOPTING INTEGRATED ACCOUNTING SYSTEM
Standing Conference of Public Enterprises (SCOPE) and The Institute of Cost And Works Accountants of India (ICWAI) organized a programme on Cost Accounting Records Rules & Cost Audit Report Rules 2011at SCOPE Convention Centre, here today.
Dr. U.D Choubey, Director General, SCOPE in his welcome address said World is moving towards convergence as far as accounting standards, rules and reporting systems are concerned. Integrated reporting accounting mechanism will be a hallmark for businesses across the globe. India is also moving away from heterogeneous and complex accounting systems to a simplistic and principle based accounting system easily understandable by all. Public Sector is a role model in this direction and is ahead of other corporates in India in adoption of best practices prevalent world over.
The Chief Guest of the programme Mr. B.B. Goyal, Advisor Cost, Cost Audit Branch, Ministry of Corporate Affairs, Government of India in his address said reforms are taking place in the accounting systems. Today, the focus is on innovative system of cost management & analysis and not preparing reports on traditional rules. New accounting system is principle based and not rules based. It is not just compliance of the rules and guidelines but providing value addition for formulating Board strategies.
Ministry of Corporate Affairs is relooking the various guidelines and accounting rules. Indian companies dealing with US businesses need to follow US information system which has emphasis on cost-related information and profitability.
Appreciating the public sector, Mr. Goyal said public sector has been driving force for the economic development of the country. PSEs have been on the forefront in the field of corporate governance, CSR, etc. ahead of other sectors. Now they are moving towards adoption of internationally accepted accounting standards.
Mr. M. Gopalakrishnan, President, ICWAI, in his address said the new accounting system is shift from a complicated, technical accounting report full of financial jargons to easily understandable, integrated report. The demand is for a concise report preferably one page with visual display of performance.
The programme is being attended by over 70 accounts executives from various public enterprises.
New Delhi,
November 24, 2011
SMT. SHEILA DIKSHIT, CM, DELHI INAUGURATES SCOPE’S HEART PROTECTION ASSEMBLY-2011
CALLS FOR 24 HR TV CHANNEL ON HEALTH
SCOPE (Standing Conference of Public Enterprises) organized a unique wellness programme “Heart Protection Assembly 2011- A SCOPE’s Global Initiative”, graced by Smt. Sheila Dikshit, Hon’ble Chief Minister of Delhi here today. Dr. U.D. Choubey, Director General, SCOPE, Dr. Naresh Trehan, Chief Patron, HPA, and CMD, Medanta – The Medicity, Dr. H.K. Chopra, President, HPA, and Sr. Consultant Cardiologist, Moolchand Medicity, and Mr. S.P.S. Bakshi, CMD, EPI also spoke on the occasion.
Smt. Sheila Dikshit, Chief Minister, Delhi releasing the Special Health Edition of KALEIDOSCOPE, A SCOPE's monthly journal, during the "Heart Protection Assembly 2011 - SCOPE's Global Initiative" function organized by SCOPE, the apex body of public sector enterprises at its Auditorium. Standing on his right are Dr. U.D. Choubey, Director General, SCOPE and Dr. H.K. Chopra, President, HPA and Sr.Cardiologist, Moolchand Medcity and on his left are Dr. Naresh Trehan, CMD, Medanta Medicity and Mr. S.P.S. Bakshi, CMD, EPI during the inaugural session. The HPA-2011 was attended by over 300 persons comprising CEOs, Directors and Senior Executives of PSEs, government officials, reprentatives from the embassies,students etc.
Inaugurating the programme Hon’ble Chief Minister, Smt. Sheila Dikshit called for a 24 hour channel on health with the joint initiative of government and doctors that creates awareness among general public about heart and other ailments.
Congratulating SCOPE for taking the initiative of organizing the wellness programme she said, heart is the life giver and as long as it is pumping one is alive. Hence care of heart is of utmost importance. She stressed on keeping a positive attitude, not falling prey to the rat race and above all to improve the quality of life. She also expressed concern about the rising diseases among children due to stress and wrong lifestyle.
In his welcome address Dr. U.D. Choubey said Corporate Health plays a vital role today and Wellness Programmes are the need of the hour. Such programmes apart from increasing awareness help to maintain the fitness of the employees which in turn contribute to business success.
Dr. Choubey said, PSEs with an investment of Rs. 5.8 lakh crore, have a turnover of Rs 12 lakh crore, earn a net profit of Rs. 1 lakh crore and contributes about 1/3rd of the total government revenues. Above all the budgetary support is hardly 2.8%. PSEs are self sustained and do not need any sympathy, but only encouragement.
CEOs of PSEs donot have salaries at par with private sector counterparts but have fringes in the form of extra stress.
Dr. Naresh Trehan emphasized upon the need of creating awareness about healthy heart as India today has already become the capital of heart diseases and diabetes much before the year predicted by WHO. The situation is very grave and it has become very important that either one prevents it or controls it. So “the more we talk about the less it is”, he added. He said, that lifestyle management is the key to healthy living. He appreciated the Chief Executives of PSEs who perform well in spite of several controls like RTI, CVC, CAG etc.
Dr. H.K. Chopra said coronary diseases are rising very fast as Indians have the worst lifestyle in the world. Stressing on the importance of exercise he said, it is necessary to exercise right from the time we are born. He also urged for creating a Delhi Heart Protection Alliance and also establishing an AHA (Attack Heart Attack) Hotline in every hospital in the city.
Proposing the vote of thanks Mr. S.P.S. Bakshi said that it is the moral responsibility of the CEOs of PSEs to spread the message of SCOPE’s Wellness Progammes amongst all its employees.
New Delhi,
November 11, 2011
SCOPE UNIQUE INITIATIVE FOR DEVELOPING EFFECTIVE LEADERS IN PSES
SCOPE organized a two-day National Workshop on “The Board Interview” with the objective to enhance understanding of the selection framework and process adopted by Public Enterprises Selection Board (PESB). Mr. C. Phunsog, Chairman, PESB, Mr. Atul Chaturvedi, Member, PESB, Mr. Arup Roy Choudhury, Chairman, SCOPE and CMD, NTPC, Dr. U.D. Choubey, Director General, SCOPE and Mr. U.K. Dikshit, Director (Programs), SCOPE addressed the inaugural session of the Workshop which is being attended by about 70 potential Board Level aspirants from CPSEs.
Sitting from left to right Mr. Mr. Arup Roy Choudhury, Chairman, SCOPE and CMD, NTPC, Mr. C.Phunsog, Chairman PESB, Mr. Atul Chaturvedi, Member, PESB and Dr. U.D. Choubey, Director General, SCOPE.
Dr. U.D. Choubey, Director General, SCOPE in his address stressed that PESB should be given full autonomy for appointing the candidates in the PSEs. He informed that about 250 posts of Independent Directors and 60 posts of functional directors are lying vacant in PSEs which should be immediately filled. There must be online clearance of Central Vigilance Commission during the selection of candidates, he added.
Dr. Choubey pointed out that the PSEs are working under certain constraints. He said pricing of the finished product should not be controlled by the government. If the PSEs have to purchase raw material like crude oil from the international market, bringing it to the refineries and sell it in the retail market, they (the oil marketing companies) have equal concern for the people and the survival of the company depends upon appropriate pricing of the products.
Mr. C. Phunsog, Chairman PESB in his address applauded PSEs resilience and significant contribution to the Indian economy despite the recent recession. PSEs have played a significant role in keeping India’s economy afloat, he said, adding that PESB is charged with a huge responsibility to see that CPSEs are in good hands and run by best possible people.
Speaking about the expectations from the executives, he said, they should be aware of the changing times, socio-economic dynamics and the evolving policies of governance within the framework of which they have to carry out their business. They should also constantly re-orient their mindset to the evolving new reality, he added.
Mr. Arup Roy Choudhury, Chairman, SCOPE and CMD, NTPC in his address said that the potential candidates must be articulate and draw a roadmap of the strengths and weaknesses of the company as well as the sector in which that company is working. He advised the PSE executives to take risks for the success in their career.
Mr. Atul Chaturvedi, Member, PESB in his address said that there is no substitute of knowledge. He advised the participants to expand their knowledge base beyond day to day operations. The selection of board level candidates is carried out with maximum possible objectivity and utmost integrity, he added.
New Delhi,
November 9, 2011
DR. CHOUBEY, DG, SCOPE ELECTED VICE CHAIRMAN OF NATIONAL SAFETY COUNCIL
Dr. U.D. Choubey, Director General, SCOPE has been unanimously elected as Vice Chairman of National Safety Council by its Board of Governors during the 149th Meeting held recently.DG, SCOPE has received this Honour for his outstanding contribution in bringing excellence in public sector enterprises.
22nd October 2011,
MR. MANI SHANKAR AIYAR ADDRESSES CORPORATE COMMUNICATION CHIEFS OF PSUS;
RELEASES KALEIDOSCOPE, THE MONTHLY JOURNAL OF SCOPE
Mr. Mani Shankar Aiyar, M.P. (Rajya Sabha) and Chief Guest, addressed the Corporate Communication Chiefs of PSUs during the Valedictory Function of the two day SCOPE National Convention on "Emerging Trends in Corporate Communikcation" which came to an end after the two day deliberations at SCOPE Convention Centre, New Delhi. On the occasion, Mr. Aiyar also released "KALEIDOSCOPE", the SCOPE Journal before the jam-packed audience in the auditorium of SCOPE.
Mr. Mani Shankar Aiyar, M.P. (Rajya Sabha) (3rd from left) releasing the "KALEIDOSCOPE", the SCOPE Journal during the two day SCOPE National Convention on "Emerging Trends in Corporate Communication" at SCOPE Convention Centre, New Delhi. Standing on his left is Mr. Arup Roy Choudhury, Chairman, SCOPE & CMD, NTPC and on his left Dr. U.D. Choubey, DG, SCOPE and Mr. Rakesh Tandon, MD, IRCTC.
On the occasion, Mr. Arup Roy Choudhury, Chairman, SCOPE and CMD, NTPC, Dr. U.D. Choubey, Director General, SCOPE, Mr. Rakesh Tandon, MD, Indian Railway Catering & Tourism Corporation (IRCTC), and Dr. Jaishiri Jethwany, Professor, IIMC also addressed the concluding session. About 100 CC Chiefs from PSUs spread all over the country attended National Convention.
New Delhi,
October 20, 2011
SCOPE TO STRENGTHEN CORPORATE COMMUNICATION IN PSES
SCOPE organized a two-day National Convention on “Emerging Trends in Corporate Communication” for corporate communication chiefs of PSEs here today. Dr U.D. Choubey, DG, SCOPE inaugurated the Convention and delivered the presidential address while Mr. Rajat Sharma, Chairman and Editor-in-Chief of India TV delivered the Keynote address. Ms. Narayani Mahil, Head (CC), ONGC, Dr Jaishri Jethwaney, Professor, IIMC and Ms. Preeti Kaur, CGM (PR), MMTC also addressed the inaugural session.
Inaugurating the Convention, Dr U.D. Choubey, DG, SCOPE urged the corporate communication professionals of PSEs to set a new agenda for corporate communication to strengthen the image of the public sector, the most important pillar of Indian economy in today’s global scenario. He said since independence the public sector has contributed immensely to nation building and its inclusive growth. However, its image needs a greater projection of its contribution which is the responsibility of corporate communication professionals in PSEs.
Mr. Rajat Sharma, Chairman and Editor-in-Chief, India TV said over the years, face of communication has changed drastically. He said public sector has made a significant contribution to the country’s economy but there is need to improve its brand image among the public.
Mr. Rajat Sharma said Corporate Communication Professionals should adopt a communication strategy to reach out to the people of the country. With better informed and empowered people, India will be able to become a super power in the globe. The programme was attended by over 100 corporate communication professionals from Public Sector Enterprises across the country.
New Delhi,
October 20, 2011
SCOPE TO STRENGTHEN CORPORATE COMMUNICATION IN PSES
SCOPE organized a two-day National Convention on “Emerging Trends in Corporate Communication” for corporate communication chiefs of PSEs here today. Dr U.D. Choubey, DG, SCOPE inaugurated the Convention and delivered the presidential address while Mr. Rajat Sharma, Chairman and Editor-in-Chief of India TV delivered the Keynote address. Ms. Narayani Mahil, Head (CC), ONGC, Dr Jaishri Jethwaney, Professor, IIMC and Ms. Preeti Kaur, CGM (PR), MMTC also addressed the inaugural session.
Inaugurating the Convention, Dr U.D. Choubey, DG, SCOPE urged the corporate communication professionals of PSEs to set a new agenda for corporate communication to strengthen the image of the public sector, the most important pillar of Indian economy in today’s global scenario. He said since independence the public sector has contributed immensely to nation building and its inclusive growth. However, its image needs a greater projection of its contribution which is the responsibility of corporate communication professionals in PSEs.
Mr. Rajat Sharma, Chairman and Editor-in-Chief, India TV said over the years, face of communication has changed drastically. He said public sector has made a significant contribution to the country’s economy but there is need to improve its brand image among the public.
Mr. Rajat Sharma said Corporate Communication Professionals should adopt a communication strategy to reach out to the people of the country. With better informed and empowered people, India will be able to become a super power in the globe. The programme was attended by over 100 corporate communication professionals from Public Sector Enterprises across the country.
New Delhi,
October 14, 2011
SCOPE Takes Lead in Setting up Occupational Safety & Health
(OS&H) Network in CPSEs
SCOPE organized a Workshop on “Occupational Safety & Health (OS&H) Network in CPSEs” in collaboration with ILO here which was attended by a large number of Heads of Corporate OS&H and Health, Safety & Environment Dept. and Nodal Officers of CPSEs responsible for OS&H areas in their respective enterprises.
Dr. U.D. Choubey, Director General, SCOPE in his address said that SCOPE and ILO is setting up a OS&H Network, which will primarily facilitate excellence in OS&H performance among SCOPE members through knowledge/information sharing, promotion of good practices, research, and effective implementation of OS&H action plans by enhancing safety and health culture and adopting systems approach.
Dr. Choubey said that PSEs in India have the best structured OS&H departments and Board Approved Corporate Policy on Safety and Health. OS&H performance and well being of working people in these enterprises are crucial pre-requisite for productivity and an important criteria for overall socio-economic and sustainable development, he added.
Dr. Choubey also emphasized the need to have a clear cut road map for enhancing awareness of compliance of norms and action taken on the findings of audits done in the area of Safety and Occupational Health.
He suggested to organise programme for improving the general health of emplyoees covering alternative medicines and Yoga. He complimented Mr. Gota Dasanayaka of ILO for taking keen interest in setting up of the OS&H Network and hoped that similar support from ILO will be available for future OS&H activities of SCOPE/ CPSEs.
Mr. Gotabaya Dasanayaka, Sr. Specialist on Employers Activities, ILO, Mr. U.K. Dikshit, Director (Programmes), SCOPE, Dr. M. Ahmad, OH Consultant, and Mr. A.U. Ghatak, H,S&E Consultant also addressed the Workshop.
New Delhi,
September 21, 2011
SCOPE organizes Interactive Meeting with West Bengal Minister
SCOPE (Standing Conference of Public Enterprises) organized an Interactive programme with Mr. Partha Chatterjee, Minister of Commerce & Industry, Government of West Bengal and CEOs and top management of public enterprises here today.
Mr. Partha Chatterjee, Minister of Commerce & Industry, Government of West Bengal, in his interaction urged Enterprising Entrepreneurs to partner in the growth and development process of the State of Paschim Bengal. He said to re-establish the brand West Bengal, the State Government would be promoting fast track execution of planned infrastructure projects and also plan to initiate investment promotion campaigns like “Resurgent Bengal”. Special focus would be paid to involve NRIs, strengthening cross departmental integrated planning for infrastructure and other developmental projects, rapidly leverage PPP Model and boost delivery of service and improve efficiencies
PSEs in their interaction assured their continued support in the development of industry in State of West Bengal. There are about 30 PSEs including Maharatna, Navaratna with large many employees, located in West Bengal. The Minister also assured to look into the concerns of PSEs to strengthen the public sector.
Chairman, SCOPE, Mr. Arup Roy Choudhury and Director General, SCOPE Dr U.D. Choubey also spoke on the occasion and highlighted the performance of PSEs. They assured their full cooperation in the growth and development of State of West Bengal.
The interactive programme was attended by a large number of CMDs, Directors and Senior Executives of PSEs.
New Delhi,
September 21, 2011
SCOPE’S Special Issue on CSR Released
Shri Partha Chatterjee, Hon’ble Minister for Commerce & Industry, Government of West Bengal released the Special Edition of KALEIDOSCOPE a monthly SCOPE magazine - on PSUs for CSR and Inclusive Growth. Mr. Chatterjee had Interactive Session with the CEOs/Top Management Executives of Maharatna/Navratna and other CPSEs organized by SCOPE here today.
Dr. Nitish Sengupta, Chairman, BRPSE, Mr. Bhaskar Chatterjee, IAS, Secretary, DPE, Mr. Arup Roy Choudhury, Chairman, SCOPE and CMD, NTPC, Dr. U. D. Choubey, Director General, SCOPE and distinguished participants comprising CEOs/Top Management Executives of Maharatna/Navratna and other PSEs were present on the occasion.
The Special Edition on CSR provides a glimpse into the CSR initiatives taken by PSEs which have remained an integral part of the CSR business. Articles contributed by Central PSEs and eminent persons have lauded 2% contribution of PSEs. SCOPE is of the opinion that mandatory provision should be extended to the private corporates also.
New Delhi,
September 21, 2011
SCOPE Launches “e-Connect SCOPE” – a Digital Monthly Magazine
Shri Partha Chatterjee, Hon’ble Minister for Commerce & Industry, Government of West Bengal launched the first issue of “e-Connect SCOPE”, a digital monthly magazine of public enterprises.
Highlighting the importance, Dr. U. D. Choubey, Director General, SCOPE said that the “e-Connect SCOPE” digital magazine is a unique SCOPE initiative as it will give a boost to information sharing in fastest mode among all those who are concerned with PSEs. The magazine will contain high quality information material with images and features, gathered from PSE constituents and in turn will enhance the visibility of public sector enterprises in India.
New Delhi,
September 19, 2011
Simplify Tax Compliance Structure : SCOPE
SCOPE organized a two-day Awareness Programme on Direct Tax Code (DTC) and Goods and Services Tax (GST) which began at SCOPE Convention Centre here today. The Programme, attended by over 80 Senior Finance Executives of Central Public Sector Enterprises (CPSEs), is being organized in academic collaboration of Institute of Chartered Accountants of India (ICAI)
Dr. U.D.Choubey, Director General, SCOPE addressing the Inaugural Session, said that the tax structure in India has created a lot of complexities as each State has different norms to tax particularly on declared/undeclared goods and different ways of taxing with the changing times. He said that DTC and GST will result in simplification of laws and better compliance and will be better for government to get larger revenue. To compete on global basis, the PSEs need financial reforms that also includes the taxation reforms, he added.
Dr. U.D. Choubey, Director General, SCOPE addressing the SCOPE-ICAI Programme on DTC & GST in New Delhi
Dr.Choubey said that Public Sector Enterprises (PSEs) are the largest entity to contribute maximum taxes to the Government Exchequer. He informed that PSEs are contributing approx. Rs, 1,40,000 crore in the form of sales tax, excise, customs duty, dividend etc. on a turnover of over Rs 12 lakh crore..
Dr. Kavita Rao, Professor, National Institute of Public Finance and Policy in her address said that since GST is to be a dual tax, and States are concerned about the autonomy, it is important for all Stakeholders to have a view on the parameters on which the States should have the autonomy – Acts/Rules/Procedures/Rates of tax. She said that implications of each of these would be different in terms of the compliance cost for the tax payers. She highlighted the importance on how GST is to be administered for the tax payers. The administrators would impose a huge compliance cost burden on the taxpayers and would imply replication of functions as well. It is important that PSEs do not remain bystanders but evolve and articulate a view on what is desirable of reform, she added.
28th July 2011,
Bengaluru
RTI Act Needs to be Extended to Private Sector Corporates
SCOPE (Standing Conference of Public Enterprises), the apex professional organization of Central Government PSEs, organized a Symposium on “Right to Information Act, 2005 for CPSEs” Bengaluru, here today. Mr. Arup Roy Choudhury, Chairman, SCOPE and CMD, NTPC inaugurated the Symposium while Mr. A.K.M. Nayak, State Chief Information Commissioner, Karnataka, delivered the Keynote Address. Dr. U.D. Choubey, Director General, SCOPE, and Mr. O.P. Khorwal, Convenor, RTI Steering Committee, SCOPE and GM (CP) & CPIO, NTPC also addressed the Symposium.
Dr U.D. Choubey, DG, SCOPE in his address emphasized the need of level playing field between public and private sector corporates. He said Right to Information Act (RTI), applicable to PSEs, must be extended to private sector corporates in the services sectors, particularly, infrastructure sector, hospitals, education etc for bringing transparency in dealing.
Dr. Choubey said that CPSEs are already part of implementation of the regulatory norms applicable to government entities. Most of the enterprises have adopted highest standards of corporate governance, transparency and ethical business practices and are adhering to various government policies and guidelines. He cautioned that PSEs being the commercial entity, should be careful in providing strategic information which could reach their competitors.
While complimenting PSEs, DG, SCOPE said it is a matter of pride that in the post liberalization era, Central PSEs are earning a net profit of around Rs 1 lac crore, and contributed over Rs 1,30,000 crore annually to the central exchequer by way of duties, taxes and dividend.
Mr. A.K.M. Nayak, State Chief Information Commissioner, State of Karnataka, in his Keynote address said RTI Act has come to stay. He stressed on prompt response and monitoring of application. He emphasised on the necessity of categorization and indexing and retention of records. He finally stated on training of officers and informed that documentation maintenance are very important for effective implementation of RTI.
Mr. Arup Roy Choudhury, Chiarman SCOPE and CMD NTPC Limited in his address encouraged all the participants to freely particpate in the Syposium by expressing their view points. RTI is about a transparency, accountability and fairness. He stated that we should organize ourselves in such a way whether RTI Act is there or not we should take decisions based on ethical considerations. RTI Act cautions us to take decisions in the interest of the organisation.
Follow ISO principle Say What You Do, Do What You Say. He also suggested that an advisory group of former CMDs of CPSEs be constituted for informal interaction on RTI related issues.
Mr. O. P. Khorwal, Convenor, RTI Streeing Committee in his vote of thanks assured to address all the issue & concern raised by the speakers and to delegate during the programme. The suggestions from the recommendation as come out of the Symposium shall be framed to CIC and DOPT Govt. of India for their considration.
28th July 2011, Bengaluru
Mandatory Provision of CSR Should be Extended to
Private Sector : DG, SCOPE
SCOPE (Standing Conference of Public Enterprises), the apex professional organization of Central Government PSEs, organized Workshop on “Excellence in Execution of CSR Projects - Capacity Building Programme on CSR in CPSEs” at Bangalore today. Mr. Bhaskar Chatterjee, IAS, Secretary, Department of Public Enterprises (DPE), and the Chief Guest, delivered the inaugural address. While the Opening Address was delivered by Dr. U.D. Choubey, Director General, SCOPE and Prof. C.V. Baxi, Programme Director also addressed the inaugural session of the Workshop.
Highlighting the importance of CSR, Dr. U.D. Choubey, Director General, SCOPE in his address strongly advocated that mandatory provision of Corporate Social Responsibility (CSR) in public sector enterprises should be extended to private sector also. He said all the Corporate be it public or private, have equal rights and duties towards citizens of the country for social upliftment.
Mr. Bhaskar Chatterjee, IAS, Secretary, Department of Public Enterprises (DPE) in his address said that DPE has framed comprehensive Guidelines on CSR for the benefit of PSEs. SCOPE & DPE are working closely to bring in synergy. Ethics must guide CSR. PSEs have social responsibility for the dovelopment of the nation. The purpose of this workshop is to familiarise the Public Sector Enterprises on all aspects of prepairing comprehensive CSR in each PSE. Every participant has to fully understand the CSR guideline & come out with plans.
He also endorsed the view of SCOPE & DPE that CSR should be made mandatory to the Private Sector as well.
The workshop is being attending by 80 delegates from various PSEs.
July 26, 2011,New Delhi
RTI ACT NEEDS TO BE EXTENDED TO PRIVATE SECTOR: DG, SCOPE
SCOPE (Standing Conference of Public Enterprises), All India Management Association (AIMA) and Department of Public Enterprises (DPE) organized PSU Summit on the theme “Quest for Excellence: Imperatives for Indian PSUs” at New Delhi today. Mr. Arun Maira, Member, (Industry) Planning Commission, Mr. Bhaskar Chatterjee, IAS, Secretary, DPE, and Dr U.D. Choubey, Director General, SCOPE addressed the gathering comprised of Chief Executives, Directors and senior officials from PSEs and Government.
Dr U.D. Choubey, DG, SCOPE in his address emphasized the need of level playing field between public and private sector corporate. He said Right to Information Act (RTI), applicable to PSEs, must be extended to private sector corporate to cover services sector, particularly, infrastructure sector, agriculture sector, hospitals, education etc for bringing transparency in dealing. PSEs have adopted highest standards of corporate governance, transparency and ethical business practices he said and continue to support RTI Act.
Dr. Choubey said PSEs are awaiting further reforms. He said issues like decision in creation of posts at ED, and GM, Dy.GM Level, foreign travels, investments, products, pricing, etc. should come under the purview of Board instead of Administrative Ministry. He said the Board structure of Indian PSEs is a typical complex and heterogeneous in nature because it has three distinct players of diverse nature i.e. Functional Directors, Government Nominee Directors and Independent Directors. Convergence of the three constituents is imperative for better professionalization of Boards.
While complimenting PSEs, DG, SCOPE said that it is a matter of pride that in the post liberalization era, Central PSEs have earned a net profit of around Rs 1 lac crore, and contributed Rs 1,39,830 crore to the central exchequer by way of duties, taxes and dividend.
July 25, 2011,New Delhi
PSEs Partnering in Agriculture Sector
Standing Conference of Public Enterprises (SCOPE) organized a Special Lecture on “PSEs in the Farming and Agriculture Sector” and also brought out a special edition of Kaleidoscope. This initiative was in pursuant of advise by Her Excellency Hon’ble President Smt Pratibha Devisingh Patil on Public Sector Day, this year to Central PSEs to partner with agriculture sector, contribute to its productivity and develop agro industry linkages. SCOPE is drawing a road map to ensure that PSEs have greater linkages with the agricultural sector to enhance agricultural productivity.
Mr. Bhaskar Chatterjee, IAS, Secretary, Department of Public Enterprises (DPE) delivered the SCOPE Lecture and also released Special Edition of KALEIDOSCOPE on “PSEs Partnering Agricultural Growth” here today. He complimented PSEs for making significant contribution in agriculture sector and also advised them that they should integrate farming sector with CSR.
Mr. Arup Roy Choudhury, Chairman, SCOPE & CMD, NTPC Limited, assured the increased contribution of power sector for rural and farming areas. As such NTPC will leave no stone unturned and at the same time he desired better realization for power supplier for agriculture sector. He assured whole-hearted contribution of PSEs towards agriculture sector.
Dr. U.D. Choubey, Director General, SCOPE in his address informed that growing population will require larger food production and in order to provide food security to all of them, there is need for “Second Green Revolution”. He said India faces a great challenge as with only 2.4 share in world’s total land area, it has to ensure food security of its population which is about 18 percent of the world’s population. PSEs are contributing significantly in all segments of economy be it power, fertilizer, insecticides, storage etc. PSEs contribution to fertilizer sector is about 61 percent. SCOPE has to prepare a road map very shortly to connect PSEs with agriculture sector. Mr. B.B. Pattanaik, Managing Director, Central Warehousing Corporation also addressed the Programme which was attended by about 200 past and present CEOs, Directors, senior executives of CPSEs and senior Government officials.
July 14, 2011,New Delhi
SCOPE FOCUSES ON EFFECTIVE IMPLEMENTATION
OF CSR GUIDELINES AND RTI ACT IN CPSEs
SCOPE takes yet another initiative to organize two Programmes, one on CSR and the other on RTI Act with the twin objective to help Public Sector Enterprises (PSEs) to effectively discharge their social obligation as well as to gain better appreciation of RTI Act and issues involved in its effective implementation from 28th July to 30th July 2011 at Bengaluru.
The workshop on “Excellence in Execution of CSR Projects – capacity building programmes on CSR in CPSEs” will be held on 28th – 29th July 2011. PSEs have made substantial investments in the social sector. The programme would sensitize and update senior and middle level managers of PSEs on the contemporary global concepts and practices of CSR to achieve excellence in execution of CSR Projects. The programmes will be addressed by Mr. Bhaskar Chatterjee, IAS, Secretary, Department of Public Enterprises, Ministry of Heavy Industries & Public Enterprises, Mr Arup Roy Choudhury, Chairman, SCOPE & CMD, NTPC Dr U.D. Choubey, Director General, SCOPE and other eminent experts.
PSEs have adopted highest standards of Corporate Governance and efficiency in their functioning. They are adhering to the various policy guidelines including implementation of RTI Act 2005. In this regard, Symposium on Right to Information Act 2005 to be held on 29th & 30th July 2011 would provide a forum to CPSEs for interacting on RTI related issues which impact their functioning. Mr M.L. Sharma, IPS, Information Commissioner, CIC, New Delhi, Mr A.K.M. Nayak, State Chief Information Commissioner, KIC, Bengaluru, Chairman, SCOPE & Director General, SCOPE will address the participants.
A large number of Senior and Middle Level Executives will be attending the above programmes.
July 8, 2011,New Delhi
Comments by Dr U.D. Choubey, DG, SCOPE on the sidelines of function
organized by Ministry of Corporate Affairs on Release of Voluntary Guidelines on
Business Responsibility by Ministry
Dr U.D. Choubey, Director General, Standing Conference of Public Enterprises (SCOPE) commented as follows:
Social Audit of expenses and allocation on CSR made by corporate sector is required to assess as to whether the same is reaching the end or not. There has been sudden spurt and mushroom growth of NGOs in the country. Even though there is no scope to accuse NGOs because they might have good intention to do social service but also large many of them may not be above board.
In Public Sector Enterprises, fortunately, there is Board approved policy on CSR and proposals for allocation of funds is generally within the approved policy which are also subjected to number of checks and balances. It would be better if a level playing field is given by extending 2% mandatory CSR components and similar checks and balances, audit etc. to private sector as well.
2% mandatory CSR component for public sector enterprises is necessarily required to be extended to all the corporates, be it private or public as both have equal right and duties towards citizens of the country for social upliftment. Level playing is essentially required between private and public sector for not only mandatory 2% allocation on CSR but also for being subjected to checks and balances, audit etc.
July 5, 2011, New Delhi
SCOPE DG Emphasises on Social Audit of CSR Expenses
Department of Public Enterprises (DPE) organized Training Programme for Master Trainers for execution of CSR components by Public Sector Enterprises (PSEs) here today. Two leading PSEs, Oil & Natural Gas Corporation and GAIL (India) Limited, have made presentations highlighting their achievements in CSR and their capacity to train Master Trainees. Tata Institute of Social Sciences (TISS) also made a presentation on the occasion.
While speaking on this occasion, Dr U.D. Choubey, Director General, Standing Conference of Public Enterprises (SCOPE) highlighted the achievements of public sector enterprises in CSR and their willingness to earmark two percent of their Profit After Tax (PAT) towards CSR even though he desired that the same should be extended to the private sector as level playing.
Dr Choubey said that PSEs have Board approved Policy on CSR and the proposal for contribution towards execution is generally approved by the respective Boards or atleast within the approved policy of the Board. Dr. Choubey also emphasized the need of social audit on the expenses incurred on CSR so that there is check and balance and the CSR fund is not diverted to those who do not have credential/credibility upto the mark.
Mr. Bhaskar Chatterjee, IAS, Secretary, Department of Public Enterprises highlighted the importance of the programme on Master Trainers of CSR.
June 28, 2011, Hyderabad
Dr. U.D. Choubey, DG, SCOPE Emphasizes on Need for Greater Professionalization of PSE Boards
Standing Conference of Public Enterprises (SCOPE), the apex body representing the Public Sector Enterprises (PSEs) in India, is making all out efforts to bring greater professionalization of the Boards of PSEs. To achieve this, SCOPE is organizing a two day Programme in Hyderabad, on Corporate Governance in PSEs with Special Focus on Role of Independent Directors, said Dr. U.D. Choubey, Director General, SCOPE addressing a Press Conference here today.
While speaking in the 7th Programme on Corporate Governance with the theme on Professionalization of PSE Boards, Dr. Choubey said that training and evaluation of the Directors are essential requirement to manage the transition at the time of joining the boards. He informed that Public Sector Boards have a unique but complex colour of three different classes of Directors i.e. Functional Directors, Government Nominee Directors and Independent Directors. All the three are coming from some or the other qualification or areas. He pointed out that while Functional Directors have domain expertise but lack interconnectivity to meet transition from working level to Functional Director level, Government Nominee Directors come from privilege position and pursue the political and social agenda. They have a gap with the working level people from the PSE and similarly Independent Directors do not come from domain expertise. Therefore all the three classes need training. Once they will give better output after going through these Programmes and their performance must be evaluated through an independent agency, he added.
Dr. Choubey informed that SCOPE is developing a matrix to evaluate the professionalization of the PSE boards and will be submitting the same to Department of Public Enterprises (DPE), Ministry of Heavy Industries & Public Enterprises, Govt. of India, shortly for accreditation of professionalization of PSE Boards. SCOPE has taken up with Government, many policy issues to bring reforms in PSEs. He informed that there are about 300 vacancies of Independent Directors lying vacant in PSEs and demanded a rigorous selection process of Independent Directors with training induction programme at the time of their joining. SCOPE has already given recommendations to the government which include autonomy of board of directors of PSEs, succession planning, ESOP, training of Directors etc.
Dr. Choubey said PSEs have emerged as a role model not only in India but for the entire world and has shown its ample prowess during the global financial crisis which shook strongest of the economic power houses in the world. During the meltdown, the PSEs remained vibrant and continued to energize the GDP growth through increase in turnover, profitability and generating wealth for the Government and the people.
Dr. Choubey said that durng the year 2009-10, PSEs posted a net profit of approx one lakh crore qand contributed Rs 1,39,830 crore to the central exchequer by way of duties, taxes and dividend. He mentioned that PSEs accounted for about 28 percent of the total market capitalization of the total universe of listed companies in India.
June 23, 2011, New Delhi
SCOPE takes Lead to Prepare PSEs towards IFRS
With the objective to provide an in depth analysis of the revised Schedule VI regarding preparation of Balance Sheet and statement of Accounts, notified by the Ministry of Corporate Affairs, Standing Conference of Public Enterprises (SCOPE) took a pioneer initiative to organize a Two-day Programme on ‘Understanding Revised Schedule VI- Presentation and Disclosures’ for the senior finance executives of various public enterprises. The programme is being organized in academic collaboration with ICWAI. Mr. R Bandyopadhyay, IAS (Retd.), Chairman, Quality Review Board, ICAI & Former Secretary, Ministry of Corporate Affairs, inaugurated the programme. Mr. Arup Roy Choudhury, Chairman SCOPE & CMD NTPC, Dr. U.D. Choubey, Director General, SCOPE, Mr. B.M. Sharma, President, ICWAI also spoke on the occasion while Dr. T.P. Ghosh, Programme Director, presented the programme perspective.
Inaugurating the programme, Mr. R Bandyopadhyay, Chairman, Quality Review Board, ICAI & Former Secretary, Ministry of Corporate Affairs, said that after financial meltdown the image of public sector has gone very high as it gave the economy much needed strength to withstand the turmoil. India was able to achieve 5.6% GDP growth during the period because of its public sector and public sector banks.
Complimenting public sector’s readiness to adopt IFRS, Mr. Bandyopadhyay said, Revised Schedule VI is a way forward towards IFRS. Today the world has become a global village and enterprises now need to explore global markets for raising funds, mergers and acquisitions and hence convergence of the presentation principles of corporate financial reporting to the international practices has become a critical issue. A big push is required to come out of the old structure, and to search and establish a new corporate reporting structure that is transparent, that eliminates irrelevant disclosures, adopts a classified balance sheet capturing the useful global trend, provide a structure to presently unstructured profit and loss statement, he added.
Mr. Arup Roy Choudhury, Chairman SCOPE and CMD NTPC in his address stressed on the need to simplify the accounting standards. He said, presentation of balance sheet should be simple so that an ordinary man can easily read and understand the financial health of an organization.
Dr. U.D. Choubey, Director General, SCOPE, said Public sector has emerged as a role model for corporate sector and must gear up for IFRS before others. Today expectations of the people at large has gone very high and therefore there is need to have a unified convergence system to assimilate with world order and present a better image of corporate India before the world.
Mr. B.M. Sharma, President, ICWAI said, that the new Schedule VI is brought in to align the Indian Financial Reporting System with global standards. He said a close look at the schedule VI indicates that many requirements are in accordance with IndAS. This could pose problems for smaller companies as they may not have the application of IFRS in their lifetime.
The programme is being attended by about 100 senior finance executives from various public sector enterprises.
12th June 2011, New Delhi
SCOPE to Organize Programme for Board of Directors of CPSEs with
Special Focus on Independent Directors, First of Its Kind in India
Standing Conference of Public Enterprises (SCOPE) is organizing a
Programme on Corporate Governance for Board of Directors of Central
Public Sector Enterprises (CPSEs), with Special Focus on the role of
Independent Directors at Hyderabad on 28th-29th June 2011. The
Programme, first of its kind in India, is being conducted under the
aegis of Department of Public Enterprises and in collaboration with
Academy of Corporate Governance (ACG) with the objective to
professionalize the Boards of CPSEs.
Mr. Bhaskar Chatterjee, IAS, Secretary, Department of Public<
Enterprises, Ministry of Heavy Industries & Public Enterprises will
inaugurate the Programme. Mr. Arup Roy Choudhury, Chairman, SCOPE
CMD, NTPC, Dr. U.D. Choubey, Director General, SCOPE and Mr.
Rana Som, CMD, NMDC will also address the Programme. Prof. Y.R.K.
Reddy, Founder and Head, ACG and Mr. Dag Detter, an eminent
International Faculty from Sweden are the Lead Resource Persons.
large number of CEOs, Functional Directors/Independent Directors and
senior executives of CPSEs will be attending the Programme.
27th May 2011
SCOPE Emphasis on R&D in PSEs
Dr. Chidambaram urges PSEs to Attract Young Talents in R&D
Standing Conference of Public Enterprises (SCOPE) organized Special Lecture series on R&D, Technology Development and Innovation in PSEs on the occasion of release of Special Edition of KALEIDOSCOPE, a SCOPE Journal.
Delivering the SCOPE Lecture on “Research, Innovation and Sustainable Development”, Dr. R. Chidambaram, Principal Scientific Adviser to Govt of India, urged Public Sector Enterprises (PSEs) to recruit young talents and provide them an assured career in science and technology. Talented science and engineering students should be given incentives to join research as a profession. Dr. Chidambaram also released the Special Edition of KALEIDOSCOPE on “Technology Upgradation – Key to Gaining Competitive Edge” in presence of Mr. Bhaskar Chatterjee, Secretary, DPE and Dr. U.D. Choubey, Director General, SCOPE and a large number of Chief Executives and Senior Executives of Public Enterprises.
Dr. Chidambaram said students at 10+2 and B.Tech levels, talented in pure science and engineering research, opt for professional and management courses because of lack of career growth in Science and Technology. The need is to engage this group in R&D activities and provide them a bright career to retain in science and technology. This will help the company in its long term development plan as well as the country to further strengthen its technological potency.
While appreciating the PSEs, Dr. Chidambaram said technology upgradation in PSEs is much higher than that of the private sector. He urged PSEs to incentivize R&D and in doing so become global leaders in technology and innovation. He also stressed on improving quality life of rural India through upgraded technology.
In his welcome address, Dr. U.D. Choubey, Director General, SCOPE expressed concern over India’s dependency on developed countries in terms of importing technology. He said India in spite of being given favourable policies and allocations; technology development has not been to the desired level.
DG SCOPE expressed the need of self-reliance in this regard and advocated development of Patents to establish the R&D efforts by PSEs. He regretted that lack of innovation and technology development domestically has pushed some of the PSEs like HMT/ITI etc to corner and the same is learning lesson. He also appreciated DPE’s concern for allocation of five marks on R&D under MOU signed between PSEs and Administrative Ministries.
Mr. Bhaskar Chatterjee in his address said that R&D guidelines are being formulated by DPE to give further impetus to R&D initiatives of PSEs. He said PSEs today are operating in a globalised competitive environment and R&D is the key to gaining the competitive edge.
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