Ministry of Heavy Industries includes GeM, MSME sector in performance evaluation system of CPSEs

New Delhi, April 9 (KNN) The Ministry of Heavy Industries has included GeM, MSME sector and other priority programmes in the performance evaluation system of Central Public Sector Enterprises (CPSEs).

The performance evaluation system is formed into a Memorandum of Understanding (MoU) which is a negotiated document between the Government as the owner of the CPSE and the Management of the CPSE. 

Dr Mahendra Nath Pandey, Union Minister of Heave Heavy Industries said that to protect the interest of stakeholders and especially of the minority stakeholders is the prime objective of the independent directors.

Speaking at the Directors’ meet in the national capital, the Minister stated that the independent directors are a significant functionaries for ensuring corporate governance in CPSEs.

He further added that many of the CPSEs are facing challenging times due to the competitive scenario. 

“Therefore, it is high time to convert such challenges into opportunities for growth of the companies,” the Minister added.  (KNN Bureau)