he BSNL example is instructive because many other profitable PSEs are likely to meet the same fate. ONGC is another leading player that may go down that path, with ambitious and focused private sector players already into oil exploration. In the past, ONGC could afford to be complacent as it was a monopoly. In a more competitive environment, ONGC needs to pull up its socks. However, ONGC can compete on a level playing field only if it gets genuine operational autonomy. Merely designating a company Maharatna or Navaratna is not good enough. Last week, the ONGC management was forced to cancel big tenders for selecting well-equipped ships that do the job of maintaining undersea exploration infrastructure simply because politically motivated “verbal instructions” came from the ministry, seeking modification of tender specifications. Against the backdrop of the BP oil spill, which has shocked the world, ONGC is trying to make specifications for maintenance vessels more stringent. But politics is interfering with this process. ONGC officials express deep frustration over this.
Holding-company-for-profitable PSEs
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