Govt given Maharatna status to three PSU giants

by khalid on 25/12/2009 · 0 comments

Three Navratnas public sector undertakings ONGC, SAIL and NTPC got Maharatna status from Government and now these mega firms will have greater financial and operational autonomy which will eventually help them to emerge as global giants.

Prime Minister Manmohan Singh presided the cabinet meeting which took the decision of giving Maharatna status.

There are 18 Navaratnas and out off them SAIL, ONGC and NTPC met the stiff criteria set by the government, including a three-year track record of annual net profit of over Rs 5,000 crore, net worth of Rs 15,000 crore and turnover of Rs 25,000 crore, besides being listed entities in the bourses.

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