NPCC conferred Miniratna Category–I status

Union Government has conferred status of Miniratna: Category–I to National Projects Construction Corporation Limited (NPCC). The empowerment of miniratna status to NPCC will help company to take speedy decisions by enhancing delegation of powers to Board.

National Projects Construction Corporation Limited (NPCC)

NPCC is schedule ‘B’ Central Public Sector Enterprise (CPSE) under administrative control of Ministry of Water Resources. It incorporated in 1957. It is premier construction company having mandate with creation of infrastructure to provide impetus for economic development of the country. It also has been awarded ISO 9001:2015 Certification. NPCC is making continuous profit since 2009-10 and is having positive networth for last six years. It has ambitious business plan with enhanced order book position of Rs. 11833 crore.

Background

Department of Public Enterprises under Ministry of Heavy Industries & Public Enterprises grants status of Maharatna, Navratna, and Miniratna to Public Sector Undertakings (PSUs) and Central Public Sector Enterprises (CPSEs) based upon profit made by these enterprises. These statuses give financial and administrative power to the companies to a certain extent. At present there are total 8 Maharatna, 16 Navratna, 60 Miniratna Category-I and 15 Miniratna Category-II CPSEs.

Month: Current Affairs - November, 2018