Govt concerned over quality of ind directors in PSUs
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The government today said it would come out with the guidelines on independent directors to improve the quality of representation on the boards of the state-run companies.
Heavy Industries and Public Sector Enterprises Minister Praful Patel said the quality of independent directors in the PSU boards "needs to be upgraded".
"I want to make one categorical assertion that the quality of the members who are appointed on the boards as independent directors will have to be upgraded," Patel told reporters here after releasing the Public Enterprises Survey 2009-10.
The Minister pointed out that many PSU boards are being represented by people who have no domain expert or little expertise and do not contribute to the functioning the company.
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