SENSEX NIFTY
Apr 13, 2012, 05.54 PM IST | Source: PTI

State-owned firms must be transparent, efficient: President

President Pratibha Patil today said state-owned companies must ensure transparency and efficiency in operations to maintain a "positive impression" about India.

State-owned firms must be transparent, efficient: President

President Pratibha Patil today said state-owned companies must ensure transparency and efficiency in operations to maintain a "positive impression" about India.

"The importance of executing work on time and with efficiency, quality and transparency, must always be kept in mind so that a positive impression is created about India and that lasts long after the work is over," she said at an award ceremony for Central Public Sector Enterprises (CPSEs).

She was speaking at a function to mark the Public Sector Day, organised by the Standing Conference of Public Enterprises (SCOPE). Patil also said CPSEs, along-with the corporate sector, must work to increase India's global imprint and image.

"Indian products should reach every nook and corner of the world and generate positive awareness about our country. Public sector units are expanding their presence overseas and helping in the creation, as also expansion of infrastructure in many countries," she said.

Talking about the proposed USD 1 trillion investment in the infrastructure sector during the 12th Five-Year Plan (2012-17), Patil said for a rapidly growing economy like India, both the public and private sectors must work together to meet the demand for large infrastructure investments. "I encourage CPSEs to boost capital investments. They must continue to perform well in existing areas, as well as explore new markets, enter into new areas and begin new activities," she added.

Patil said, "There should be a constant process of review and assessment to ensure that best practices of corporate governance for production and management are followed, and innovative business practices are adopted".

ADS BY GOOGLE

video of the day

Risk is a four letter word: Author Jerome Booth

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.