Bhubaneswar, Feb 15: Odisha Governor Dr. Hari Babu Kambhampati has proposed the listing of selected State Public Sector Undertakings (PSUs) and government-owned companies on the stock market.
At a high-level review meeting with all PSUs at Raj Bhavan, the Governor highlighted the potential of this initiative to improve accountability, boost performance, and strengthen the financial position of Odisha's PSUs. The meeting focused on the importance of timely financial reporting and adherence to statutory guidelines, which are essential for maintaining financial discipline, transparency, and good governance within PSUs.
Dr. Kambhampati emphasized that PSUs must prioritize transparency, efficiency, and financial discipline in managing public resources.
"A well-functioning PSU not only enhances the company’s value but also significantly contributes to the state's economy," he said.
He stressed the need for regular audits and the timely submission of audit reports to build credibility and public trust.
The Governor also expressed concern over the failure of several PSUs to hold Annual General Meetings (AGMs) or finalize their annual accounts, calling these lapses violations of corporate governance principles. He urged PSU heads to adhere strictly to financial norms, hold AGMs on time, and complete their accounts by September 30 of the following financial year.
The meeting was attended by senior officers from various Odisha government departments.
