Odisha Governor Advocates for PSU Stock Market Listing

Odisha's Governor Hari Babu Kambhampati proposes listing state PSUs on the stock market to boost accountability and strength. The move aims to enhance transparency and performance. He stresses timely audits, regular AGMs, and financial discipline are crucial to change the perception of PSUs as loss-making entities.

Odisha Governor Hari Babu Kambhampati has proposed listing select State Public Sector Undertakings (PSUs) and government-owned firms on the stock market. His announcement was made at a high-level review meeting attended by leaders from all PSUs.

The Governor stated that the stock market listing would enhance accountability, drive performance, and bolster the financial strength of Odisha’s PSUs. The meeting underscored the significance of timely financial reporting, compliance with statutory guidelines, and the necessity for good governance within these entities.

Governor Kambhampati highlighted that transparency and financial discipline are paramount in managing public resources. Stressing the importance of timely audits and adherence to financial norms, he encouraged PSU heads to update accounts and hold regular audits. Drawing parallels to successful PSU transformations in Gujarat, he urged a shift in perception from loss-making to profit-generating entities.