Maharatna status to four state-run firms ONGC, SAIL NTPC and IOC
| Maharatna status for IOC ONGC soon |
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| The Government on Tuesday said it is in the process of granting the Maharatna status to four state-run firms ONGC, SAIL NTPC and IOC. The tag will allow them to take investment decisions of up to Rs 5,000 crore, independent of the government. "These proposals, recommended by the Inter-Ministerial Committee, are now being considered by the Apex Committee," minister of state for heavy industries and public enterprises Arun Yadav informed the Rajya Sabha. Yadav said that the Department of Public Enterprises (DPE) has received proposals for the grant of Maharatna status to four Central Public Sector Enterprises (CPSEs). The four firms fulfill all the criteria, comprising a three-year track record of annual net profits of over Rs 5,000 crore, net worth of more than Rs 15,000 crore and turnover of more than Rs 25,000 crore, besides being listed on stock exchanges. |
Economic Times, New Delhi, May 05, 2010
