ONGC Videsh Limited receives SCOPE award from Hon’ble Prime Minister of India

ONGC Videsh Limited receives SCOPE award from Hon’ble Prime Minister of India

eindiadiary bureau

New Delhi: ONGC Videsh Limited (OVL), the overseas arm of ONGC has been conferred with the prestigious “SCOPE Award for Excellence and Outstanding Contribution to the Public Sector Management– Institutional III (Other Profit Making PSE Category – Non Ratna)” 2009-2010.

Sri Sudhir Vasudeva, CMD, ONGC & Chairman, ONGC Group of Companies and Sri D. K. Sarraf MD, OVL received this prestigious award from Hon’ble Prime Minister of India, Dr Manmohan Singh at a glittering awards ceremony held at Vigyan Bhawan, New Delhi on 31st January 2012. The awards ceremony was organized by Standing Committee of Public Enterprises (SCOPE) under the aegis of Department of Public Enterprise, Ministry of Heavy Industries & Public Enterprises, Government of India.

Sri Praful Patel, Union Minister for Heavy Industries while delivering the welcome address shared the growth of Central PSE’s (CPSEs) from 1990 to 2010. He informed that from 1990-91 to 2009-10, the cumulative turnover of CPSEs have increased from Rs 18,000 crores to Rs 12 Lakh 50 Thousand crores, cumulative profit has increased from Rs 2,792 crores to Rs 93,000 crores and total employee strength from around 56,000 employees to over 15 Lakh employees. CPSEs have played a crucial role towards the economic growth of the nation.

Hon’ble Prime Minister while delivering his inaugural address complimented the CPSEs for setting high standards which is an inspiration for others to follow. Congratulating the awardees for their stellar performance in respective fields he iterated that to stay competitive at the time when there are rapid changes across the globe each and every organization should pay increased focus towards Corporate Governance, Strategic Planning, Innovation, Research and Development and Quality Control. This is the 5th year in succession that Hon’ble Prime Minister, Dr Manmohan Singh has given away the MoU Excellence Awards & SCOPE Excellence Awards.

SCOPE excellence award has been conceptualized and instituted to recognize the contribution of Public Enterprises and to encourage outstanding persons for their hard work and leadership qualities. Selection of this prestigious award has been made based on stringent criteria devised/evaluated by Deloitte Touche Tohmatsu India Private Limited and decided by a distinguished panel of eminent persons as Jury chaired by Justice P. N. Bhagwati, former Chief Justice of India.

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