Page 18 - August-2020-Issue

ARTICLE

improvement in key performance development of remote districts order to support the economically
parameters. and villages in the country, pro- weaker section, PSEs are working
viding education and health in- towards making food and shelter
frastructure alongside ensuring arrangements for the needy.
PSEs are considered as safe connectivity and development.
investments due to high Presently 150 PSEs spent over
dividend payouts along with close to 3,900 crore rupees an- PSEs would play a new
nually on CSR activities register- avatar which would be more
sustained improvement in
ing a growth of approximately
key performance parameters. significant, affirmative and
13% in the CSR expenditure over
previous year. Even during the critical than the previous
Over a period of time it has been present catastrophe, PSEs have role to push the economy
observed that investors allocate a pioneered in taking the measures on an upward momentum
significant percentage of their in- of the Government forward and
vestments to the PSEs while build- are committed to contain the as the country sets new
ing a stable portfolio of stocks. As spread of this new virus while missions and visions for
per reports there are some PSEs addressing health crisis. In its itself and gear up to bounce
whose stocks is considered lucra- fight against the pandemic, PSEs
tive by not only investors but also are supplementing the govern- back to growth.
fund managers, FIIs as well as in- ment efforts on all fronts- medi-
surance companies. cal, social and contributing sig- Public sector has come a long way
nificant sum to Prime Minister’s
While PSEs continue to establish CARES Fund. Further, a number from its initial conception. While
new records of profitability, they of PSEs have utilised their hospi- they have continued to grow and
are also harbingers of social com- tals/health units to create isola- rise and more importantly adapt
mitment towards upliftment of tion facilities/quarantine wards. themselves with the changing
the economically weaker along Also, specific measures have been business scenarios, their resil-
with promoting balanced re- taken to procure / manufacture ience is in the fact that PSEs were
gional development. It may be medical equipment, ventilators able to withstand the dynamism
interesting to note that Corporate and providing necessary medi- of global developments and
Social Responsibility (CSR) was cal support across the country. emerge even stronger. However,
a mandate for PSEs even before PSEs are also in the forefront to as The Dalai Lama said “The goal
it was introduced in Companies create awareness among masses is not to be better than the other
Act, 2013. PSEs have continu- and employees through vari- man but your previous self”. With
ously been working towards ous modes of communication. In a new world order likely to be in
place post the pandemic, PSEs
have a new strategic role while
the country undergoes yet anoth-
er transformation to become one
of the leading economies. PSEs
would play a new avatar which
would be more significant, affir-
mative and critical than the pre-
vious role to push the economy
on an upward momentum as the
country sets new missions and
visions for itself and gear up to
bounce back to growth.

18 KaleidOscope August, 2020