Government orders re-examination Miniratna status of CPSEs

Gujarat Global News Network, Delhi

The Department of Public Enterprises of the Ministry of Heavy Industries & Public Enterprises has directed all administrative Ministries and Departments to re-examine the Miniratna status of existing Miniratna Central Public Sector Enterprises (CPSEs). It is to be done by January 15 this year.

As per existing guidelines, the concerned administrative Ministries/Departments are competent to grant Miniratna status to CPSEs under their administrative control after satisfying themselves that the CPSEs fulfill the criteria laid down for grant of Miniratna status specified by the Department of Public Enterprises(DPE).

The appointment of minimum three non-official Directors is one of the pre-conditions for exercised of delegated Miniratna powers. The Ministries and Departments have been asked to take the following actions in this regard.

It should be ensured that the Miniratna CPSEs continued to fulfill the laid down criteria for grant of Miniratna status on the basis of their performance for the last three years.  In case any of these Miniratna CPSEs does not fulfil the laid down criteria for grant of Miniratna status, order for divestment of its Miniratna status may be immediately issued under intimation to DPE.

In future, a copy of the order for grant of Miniratna status should be endorsed to DPE. In case, minimum three non-official Directors are not in position on the Boards of these Miniratna CPSEs, the proposal for appointment of requisite number of non-official Directors may be furnished. The Ministries and Departments have been asked to furnish a comprehensive report in this regard to DPE by 15th January, 2012.

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