NEW DELHI (Economy India) Union Minister for Power and Housing & Urban Affairs, Shri Manohar Lal Khattar, today extended his heartfelt congratulations to the Chairmen and Managing Directors of NHPC (National Hydroelectric Power Corporation) and SJVN (Satluj Jal Vidyut Nigam Limited) for being awarded the prestigious ‘Navratna’ status by the Government of India. This significant recognition grants these two leading Central Public Sector Undertakings (CPSUs) in the hydropower sector greater operational and financial autonomy.
Acknowledgment of a Historic Achievement
Shri Khattar lauded this as a historic moment for both companies and encouraged them to strive for even greater successes in the future. He emphasized that this is a crucial milestone for the nation, as companies like NHPC and SJVN are playing a vital role in harnessing hydropower capacity, thereby strengthening the country’s energy sector while limiting greenhouse gas emissions and other pollutants.
‘Navratna’ Status: Autonomy and Empowerment
According to the order issued by the Department of Public Enterprises (Ministry of Finance) on August 30, 2024, the ‘Navratna’ status will allow NHPC and SJVN to make decisions more swiftly and enhance their operational efficiency. With this status, these companies will have the autonomy to make key capital expenditure (CAPEX) decisions, implement investment plans, and expand into new markets.
Steps Towards International Expansion and Innovation
The ‘Navratna’ status will also empower NHPC and SJVN to establish joint ventures abroad, leverage local expertise, and promote innovation through technical alliances. Additionally, these companies will be able to pursue mergers and acquisitions, thereby increasing their market share and driving growth.
‘Navratna’ Status: A Path to Long-Term Growth
With this esteemed status, NHPC and SJVN will not only be able to strengthen their market position but also embark on a path of long-term growth. The ‘Navratna’ status will support their ability to make quick decisions and solidify their presence in the market.
Conclusion: The award of ‘Navratna’ status will grant NHPC and SJVN greater autonomy in their operations, enabling these companies to achieve further progress in the hydropower sector.
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