Public Sector Enterprises which perform well needs to be recognized and which don't perform as well needs to be motivated further to encourage them to improve their performance and strive to do better. The Department of Public Enterprises have therefore introduced the Scheme Grant of Awards for Public Sector Enterprises in Assam. The Scheme confer awards upon the public sector enterprises and its employees who perform well in their own fields and assist the State Government to generate more profits, State revenue and overall growth of the State economy.
The department of Public Enterprise is the Nodal Department of the State Government to implement and supervise the scheme.
The Department of Public Enterprises arrange the fund and make necessary provision of Rs 3 (Three Lakhs) annually in its annual budget to execute the above mentioned scheme.
The award carries a momento and a certificate stating the performance of the PSE and its achievement in the concerned field. The awards conferred upon the Public Sector Enterprises are mentioned herein below :
The Selection of the PSEs for confernment of the Awards is done on the basis of information submitted by the individual PSE to the Public Enterprise Department and compiled by the same department. Prior targets are fixed by the department where possible with the concerned PSUs. The final selection requires the approval of the Hon'ble Chief Minister Assam/Hon'ble Minister, Public Enterprises Department.
The Awards are presented in an official function/meeting. The Department of PE is responsible to make all necessary arrangements in a befitting manner to hold the official function to confer the awards.
Public Enterprises Department for the first time conferred to the State PSUs various Awards like – Best PSU, Best MD, Highest Dividend paid PSU, Special Achievement Award in an official function by the hands of Hon’ble Chief Minister, Assam during 2012-13. Due to non availability of up to date data / information from the State PSUs and other constrains the awards could not be conferred in the last two financial years.
PE Deptt. has developed a self- assessment performance format (to be filled up by the PSUs and evaluate themselves of their own position in grading of PSUs based on 14 important factors like – profit / loss position, dividend declared, net-worth position, accumulated loss, annual revenue growth, return on investment, turnover per employee, position of audited accounts, MoU execution, computerization of accounts & MIS, revision of pay scales, ISO certification obtained, any other certification obtained, adoption of corporate governance guidelines etc. against which a specific score have been allotted totaling 100. Based on PSU’s self-achievements and with the composite score obtained, the PSUs have been graded into 4 categories such as - A, B, C & D.
25 out of 30 PSUs had furnished their self assessment & scoring on the above mentioned factors based on the financial year 2012-13 in the prescribed format. Assam Gas Company Ltd. (AGCL) ranked 1st with highest score achieved 81/ 100 and Assam Co-operative Jute Mills Ltd. (ACJM) ranked 2nd highest scored achieved 78/ 100 have been categorised under – ‘A’, 9 Nos. of PSUs were categorized as ‘B’, 5 Nos. of PSUs were categorized as ‘C’ and remaining 9 Nos. of PSUs were categorized as ‘D’.
These two highest scored 1st & 2nd PSUs namely – AGCL and ACJM respectively will be awarded for their overall achievement as category “A” PSUs in a function.
Secondly, PE Deptt. also decided to hold “SLPE–Day” on 9th October every year giving a platform / opportunity to the employees of all PSUs to meet, discussed common problems and exchange of their ideas for mutual benefits. The first “SLPE–Day” was hold on 9th October, 2013, but due to non availability of fund the SLPE-Day could not be observed on 9th October, 2014
The Public Enterprises Department after careful consideration have decided to motivate the State Public Sector Enterprises (PSE) who have shown good performance and achieved their annual targets by rewarding them so that they reach heights of excellence and contribute to the society