Governance Now honours public sector organisations at 8th PSU Awards

Dr Kiran Bedi and Tarun Kapoor graced the occasion

e4m by exchange4media Staff
Updated: Aug 4, 2021 8:28 AM
PSU Awards

Governance Now, a publication on public policy and governance analysis, organised the 8th edition of the PSU Awards on July 29, 2021. Dr Kiran Bedi, Former Lt Governor, Puducherry, and Tarun Kapoor, Secretary, Ministry of Petroleum and Natural Gas, Government of India, graced the occasion and felicitated the public sector organisations. Over seven years, the awards have recognised the efforts of Public Sector Undertakings (PSUs) and have been appreciated by Union ministers and political stalwarts. The award ceremony was organised virtually this year and saw the participation of senior leaders from various public sector organisations.

“It is a pandemic year and we are continuing with our PSU Awards ceremony. The journey started eight years ago when we realised that the public sector needs to be applauded for the contribution they make to the national economy,” said Kailashnath Adhikari, Managing Director, Governance Now, in his welcome address.

Addressing the gathering, Dr Kiran Bedi, said, “It brings me a source of joy to be part of this occasion and recognising PSUs. I have also worked with the Department of Industries for some time and I got the opportunity to see some of the best and some which were not doing well. I understand the importance of PSUs and their role in the economy, and it cannot be gauzed from the lens of quantifiable numbers, it has to be seen as their contribution to society. PSUs bring national security, self -reliance and expertise. They deal a lot with export promotion, regional equality, and employment opportunities so they need to be assessed through valuable contributions. I am happy to see that Governance Now is recognising them.”

Kapoor congratulated Governance Now for recognising good work of PSUs and felicitating them for so many years. “PSUs have done great work since independence, particularly in sectors like energy (petroleum power, coal) and infrastructure. There are a total of 300 PSUs, some of them are large and some are small. They have performed very important functions and roles since independence, and even today, they continue to lead certain sectors. The total turnover of petroleum and natural gas PSUs is over Rs 12 lakh crore per annum. The profit also runs into thousands of crores. There is a dividend paid to the government every year,” he said.

"The PSUs have been performing certain functions and they have been contributing to the national exchequer," he added.

“During the pandemic, the public sector played a critical role despite the challenges. They were the key in fight against Covid-19. The public sector holds a lot of potential for the economy, especially in the realisation of government's ambitious plan to make India a 5 trillion dollar economy by 2024. Not only that, India’s significant portion of GDP comes from PSUs. The sector also actively contributes to the social development of the country,” Kapoor said.

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