The government is planning to encourage competition among Navratna PSUs to attain "Maha Ratna" status, Minister for Heavy Industries and Public Enterprises Vilasrao Deshmukh said today.
Various departments have sent their comments suggesting guidelines that could be adopted while formulating the norms for alloting Maha Ratna status and it would soon be placed before the Cabinet for approval, he told reporters here.
Those achieving the Maha Ratna status would get more autonomy in terms of making decision on investments and other matters, Deshmukh said.
It is proposed that to get the Maha Ratna tag, a PSU should come up with exemplary financial results of about Rs 5,000 crore profit for three successive years, he said and pointed out that navratna PSUs such as NTPC and ONGC could compete for it.
Deshmukh also said there was no change in the policy decision that disinvestment should not exceed 49 per cent to enable the government to maintain total control over PSUs.
Earlier, Deshmukh along with Minister of State for Heavy Industries Arun Yadav inaugurated the upgraded solar photovoltaics facility at BHEL.
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BHEL has invested Rs 160 crore on the eight Mw plant, which it upgraded from three Mw.
Deshmukh called upon BHEL to bring down the cost of power per unit from the present Rs 19 by undertaking research.