The Hindu Business Line : Minister talks tough

Formulating a general action as part of improving the performance of State-owned PSUs, the State Industries Minister, Mr Elamaram Kareem, has called upon the CEOs of PSUs for co-operation and co-ordination among the companies in matters of raw material purchases, marketing strategies, manpower training and research and development.

Giving a strict warning to CEOs on corruption, the Minister said that no longer would inefficiency be tolerated. Nor should the CEOs think that godfathers could protect their positions, the Minister said at the inauguration of the convention of chief executive officers of PSUs in the State here on Monday.

The CEOs were also advised by the Minister to take firm decisions within their powers, to stop rushing to the Secretariat or the Minister to solve problems that they could as well decide upon.

He said that only those confident of running the PSUs efficiently and within the policy framework adopted by the LDF Government should continue at the helm of PSUs.

Performance report

The Minister said that PSUs from now on would be required to submit a report of their performance within the fifth of every month. The fixed proforma submissions will account the monthly progress of the company, its achievements as well as the financial position.

He also told the CEOs that they should stop going to the Press with overblown reports of their achievements. He said that some of the PSUs going to the Press about their achievements had created the wrong impressions.

He also drew the attention of CEOs to specific practices like irrational systems of overtime payments and production incentives that contributed to the financial losses incurred by the PSUs.

Co-operation

The Minister said that co-operation and co-ordination among PSUs should not be an excuse for dumping sub-standard products or jacking up prices. Co-operation within the limits of both quality and price competitiveness was imperative, he added.