'Set up sovereign wealth fund to manage investments in PSUs'

Apex public sector enterprises body SCOPE today suggested setting up a sovereign wealth fund to manage investments in state-owned units.
"Globally, many countries have created sovereign wealth fund or sovereign holding structure for their state-owned enterprises for improving governance and deliverability.
"Therefore, there is need for structural change which could be arrived at by wide deliberations between academicians, researchers, professional and government and people at large. This would help in improving corporate governance practices and far better professionalization," Standing Conference of Public Enterprises (SCOPE) Director General U D Choubey said in a statement.
He said post-recession period witnessed a major change in worldwide trends in governance of state-owned enterprises.

SCOPE is the apex body of Central Government-owned Public Enterprises.
Choubey also emphasized the need for further reform in PSEs.
He also advocated that establishing community relations on sustained basis is the best strategy for improving image of PSEs/Corporates.