New Delhi, Jun 26 (KNN)  The Ministry of micro, small and medium enterprises has re-defined the MSMEs owned by SC/ST including the partnership MSE and private limited companies for better execution of procurement policy by central ministries from MSMEs. 

“In case of proprietary MSE, proprietor(s) shall be SC/ST while for partnership MSE, the SC/ST partners shall be holding at least 51 per cent shares in the unit.  In case of private limited companies, at least 51 per cent share shall be held by SC/ST promoters,” said an official statement.

The Government introduced Public Procurement Policy for Micro and Small Enterprises (MSEs) Order, 2012 which is notified under MSMED Act 2006.

The Public Procurement Policy mandates all Central Ministries, Departments and Central Public Service Undertakings (CPSUs) to set an annual goal for procurement from the MSE sector from 1st April 2012 with objective of achieving an overall procurement of minimum 20 per cent of their total annual purchases value from products produced and services rendered by MSEs within a period of three years.

The Policy also earmarked four per cent share out of this 20 per cent procurement from MSEs owned by SC/ST entrepreneurs. (KNN)