The government has conferred Navratna status on three
PSUs Bharat Electronics Ltd, Hindustan Aeronautics
Ltd and Power Finance Corporation giving them more
freedom in financial and administrative matters.
the addition of three more companies, the navratna list
has now expanded to 12 public sector units.
on the occasion of conferment of the coveted status on
the three companies, finance minister P Chidambaram emphasised
the government''s commitment to strengthen public sector
enterprises by giving them more autonomy.
asked unlisted public sector companies to list on stock
exchanges to unlock their true value.
three PSUs will now be able to forge joint ventures both
in India and abroad, which can be up to 15 per cent of
their networth or Rs1,000 crore, whichever is lower, without
taking prior permission of the administrative ministry.
boards of these companies will also have the power to
decide on merger and acquisitions.
industries minister Santosh Mohan Deb said four more PSUs
National Aluminium Company, National Mineral Development
Corp, Power Grid Corp and Rural Electrification Corp
would also be given Navratna status as soon as they fill
all the vacancies for independent directors.