Governor Proposes Stock Listing for Odisha PSUs

Odisha Governor Hari Babu Kambhampati has proposed listing select state public sector undertakings (PSUs) in the stock market to enhance accountability, drive performance, and strengthen their financial standing. Speaking at a review meeting on PSU performance at Raj Bhavan, the Governor underscored the importance of transparency, efficiency, and financial discipline in managing public resources.

Highlighting the need for PSUs to contribute effectively to the state’s economic growth, Kambhampati stressed that well-managed enterprises not only increase their own value but also play a crucial role in wealth creation for the state. However, he expressed concerns over the non-compliance of several PSUs in holding annual general meetings (AGMs) and finalizing accounts on time, calling it a breach of corporate governance norms. He urged PSU leaders to adhere to financial regulations, ensure timely audits, and finalize their accounts by September 30 of the following financial year.

Addressing the evolving role of PSUs, the Governor dismissed the outdated notion of them being loss-making entities. Citing Gujarat’s success in reviving undervalued PSU stocks, he emphasized the potential of Odisha’s state-run enterprises to follow a similar path under effective leadership. “PSUs are the backbone of our economy. Unlocking their full potential is essential for the progress of the people and the state,” Kambhampati remarked.

With the Governor’s push for reforms and stock market listing, Odisha’s PSUs could soon undergo a transformation aimed at improving efficiency, increasing public trust, and contributing more significantly to the state’s economic development.