Four state PSUs placed in excellent grade

PSUs have been graded on the basis of their performance in terms of targets and achievements for 2011-12 stipulated in the MoU signed with the state govt

Four state PSUs - Industrial Promotion & Investment Corporation of Odisha (Ipicol), Odisha Forest Development Corporation (OFDC), Odisha Hydro Power Corporation (OHPC) and Odisha Power Transmission Corporation Limited (OPTCL) have been placed in the excellent grade.

The PSUs have been graded on the basis of their performance in terms of targets and achievements for 2011-12 stipulated in the memorandum of understanding (MoU) signed with the state government.

Similarly, four other PSUs - Odisha State Seed Corporation (OSSC), Odisha State Cashew Development Corporation (OSCDC), Odisha State Warehousing Corporation (OSWC) and Odisha State Financial Corporation (OSFC) have earned the 'very good' tag.

The government has accorded 'good' grading to eight PSUs - Gridco, Odisha Mining Corporation (OMC), Odisha Industrial Infrastructure Development Corporation (Idco), Odisha State Civil Supplies Corporation (OSCSC), Odisha Agro Industries Corporation (OAIC), Odisha State Beverages Corporation (OSBC), Odisha Lift Irrigation Corporation (OLIC) and Odisha Construction Corporation (OCC).

The state government on Wednesday inked performance MoUs with 24 PSUs.

While each PSU has been given specific set of instructions to scale up its activities in 2013-14, all PSUs have been urged to achieve computerization of operations in this fiscal.

Each PSU has also been asked to go for Enterprise Resource Planning (ERP). The ERP integrates all facets of operations including product planning, manufacturing, material procurement, inventory control, distribution, accounting, marketing, finance and human resource.

Chief secretary B K Patnaik has urged the PSUs to function as corporate entities and not as mere extension of administrative departments.