The Department of Public Enterprises oversees the functions of the State’s Public Sector Undertakings (PSUs) and advises on their efficient management and control in the functional areas, such as finance, production, organisation and marketing.
As per the rules of business, the functions of the Department are:
- Laying down general policies and guidelines for effective management, marketing, finance, services, etc., of PSU and periodic review of their performance.
- Regulating industrial project proposals through project approval committee.
- Prescribing norms for financial discipline, budgeting, accounting and audit in the PSUs
- Eliciting information and data from public sector undertakings and advising on preventive measures against their becoming sick.
- Prescribing norms for mutual cooperation and coordination among the PSUs.
- Prescribing model Memorandum of Understandings (MoU) and reviewing the progress of MoUs.
An important role that the Department has come to play in the recent years is overseeing the public enterprise reform programme of the Government (more details in the programme section) and running the social safety netfor redundant employees of the State’s PSUs.