Bhubaneswar: In a significant push for economic reform, Governor Dr. Hari Babu Kambhampati has proposed the listing of select State Public Sector Undertakings (PSUs) and government-owned companies on the stock market. Speaking at a high-level review meeting at New Abhishek Hall, Raj Bhavan, the Governor emphasized that such a move would enhance accountability, performance, and financial strength while boosting public trust in state enterprises.
The meeting, attended by heads of various PSUs and senior government officials, focused on ensuring transparency, timely financial reporting, and strict adherence to statutory guidelines. The Governor stressed that PSUs must play a proactive role in strengthening Odisha’s economy and ensuring good governance.
Governor Dr. Kambhampati underscored the critical need for timely audits and the regular submission of audit reports to maintain credibility. He noted that several PSUs failed to conduct Annual General Meetings (AGMs) or finalize annual accounts—a lapse in corporate governance. Calling for strict adherence to financial norms, he urged PSU heads to finalize accounts by September 30 of the following financial year to uphold fiscal discipline.
He also addressed the public perception of PSUs as loss-making entities, assuring that with proper transparency, audits, and financial compliance, these companies could emerge as key contributors to Odisha’s economic growth. Citing Gujarat’s success in revitalizing its PSUs under Narendra Modi’s leadership, the Governor highlighted how undervalued state-run enterprises have turned into highly sought-after investments.
“PSUs are the backbone of our economy. Their full potential must be realized for the benefit of the people and the state,” Dr. Kambhampati stated, calling upon PSU leadership to prioritize financial discipline and efficient resource management. He further stressed that a well-functioning PSU enhances the company’s value and significantly contributes to the state’s wealth.
The Governor’s proposal to list select PSUs on the stock exchange is seen as a move to enhance efficiency, attract investment, and make public enterprises more competitive. By increasing transparency and compliance, the state government aims to strengthen Odisha’s industrial landscape and drive sustainable growth.
The meeting was attended by senior government officials, including Principal Secretary to Governor, NBS Rajput, Principal AG, D. Sahu, Senior Deputy AG (Admn), Siraj Ashoka, and Deputy AG (PSU Audit), Subham Baidyanath Swamy.
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