CPSEs contributed Rs 3.5 lakh crore as dividend & tax to Exchequer in FY18

Chennai: To showcase the contribution made by the Public Sector Organizations in nation-building and social progress, NLC India Limited celebrates 10th Public Sector Week from 10th to 16th April, 2019, organized under the ageis of Standing Conference of Public Enterprises (SCOPE), an apex professional organization representing the Central Government Public Enterprises.

NLCIL observed the 10th 'Public Sector Day' in a befitting manner at the function organized at Corporate Office premises, Neyveli, on 10.04.2019, wherein Rakesh Kumar, CMD, NLCIL and also the Chairman of SCOPE, hoisted the Public Sector Flag and NLCIL Flag in the presence of Functional Directors of NLCIL.

Rakesh Kumar recalled the background and necessity regarding evolution of Public Sector Enterprises. The PSUs were incorporated after Independence to create employment opportunities, to develop infrastructures, to improve industrialization and to solve the socio-economic problems prevailing at that time.

Started with five PSUs, today the country has 339 PSUs, of which 257 are in operation and others are in the construction stage. As on 31.03.2018, the total capital employed by CPSUs are Rs. 13.73 lakh crore and CPSUs have witnessed a growth of 4.5 times over a period of past 20 years, he added.

Rakesh Kumar also informed that the Central PSUs contributed Rs. 3.50 lakh crore as dividend and tax to the exchequer during the Financial Year 2017-18. As on 31.03.2018, the CPSEs gave direct employment to 15 lakh employees and the volume of indirect employment will be manifold, he said.

While highlighting the performance of NLC India Limited, he said that NLCIL officers are able to install 2.50 MW of Solar Power Project in the Andaman Island in a record time of two and half months and NLCIL's first coal mine is almost ready for operation at Talabira, Odisha.

The NLCIL CMD has appreciated the employees of NLCIL as they are well equipped to face the challenges, manage the changes in the industry and are able to deliver results with maximum speed.

Earlier, N Muthu, ED/HR welcomed the gathering while S Gurusaminathan, CGM/HR rendered vote of thanks. R Vikraman, Director (HR), N N M Rao,Director (Planning & Projects), Prabhakar Chowki, Director (Mines) and Shaji John, Director (Power) – designate of NLCIL, officials, staff, TUs, engineers and officers associations participated in the event.