Bhubaneswar, Feb 15 (FN Agency) 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.Speaking at a high-level review meeting attended by all PSUs at Raj Bhavan, the Governor emphasised the potential of this initiative to enhance accountability, drive performance, and strengthen the financial standing of Odisha’s PSUs. The meeting was organised to highlight the importance of timely financial reporting and compliance with statutory guidelines for financial discipline, transparency, and good governance in PSUs. Dr. Kambhampati stressed that the core responsibility of PSUs is to uphold transparency, efficiency, and financial discipline in managing public resources.
“A well-functioning PSU not only enhances the company’s value but also contributes significantly to the state’s economy,” he remarked, underscoring the need for timely audits and the regular submission of audit reports to build credibility and trust among the public. The Governor also expressed concern over the failure of several PSUs to conduct Annual General Meetings (AGMs) or finalise their annual accounts, calling it a violation of corporate governance principles. He urged PSU heads to strictly adhere to financial norms, hold AGMs regularly, and finalise accounts by September 30 of the following financial year.
Addressing the common perception of PSUs as loss-making entities, Dr. Kambhampati reassured that the reality had changed. He emphasised the importance of transparency, audits, and compliance in rebuilding public trust in PSUs. Drawing inspiration from Gujarat’s success under the leadership of Narendra Modi, the Governor cited how previously undervalued PSU stocks there have now become highly sought-after investments. “PSUs are the backbone of our economy. Their full potential must be realised for the benefit of the people and the state,” Kambhampati said, urging PSU heads to prioritise financial discipline and maintain up-to-date accounts. The meeting was attended by senior officers from various departments of Odisha government.