An Orientation Programme for Non-Official Directors of CPSEs of Ministry of Coal & Mines was organized at New Delhi today. The main objective of the programme was for Non-Official Directors of CPSEs to serve as an inspiration for CPSEs to help carry out Government Policy for CPSEs, and to improve the performance of the CPSEs.
The purpose of the programme was to start a dialogue between the Ministry and NODs to ensure NODs get a good orientation on the Ministry’s goals/strategies for the sector and to clarify expectations from NODs.
The programme was graced by Sh. Pralhad Joshi, Union Minister of Coal, Mines and Parliamentary Affairs and Sh. Raosaheb Patil Danve, Minister of State for Coal, Mines and Railways who sought the feedback of NODs and addressed their concerns. After the welcome Address by Sh. Bhabani Prasad Pati, Joint Secretary, Ministry of Coal, self introduction was provided by 33 Non-Official Directors of CPSEs of Ministry of Coal & Mines who attended.
Sh. Raosaheb Patil Danve, Minister of State for Coal, Mines and Railways emphasized that this orientation session will help the NODs in exchanging their experiences and enable them to be well informed about the company and the external environment in which they operate and ensure that adequate deliberations are held before approving agendas and assure themselves that the same are in the interests of the company.
Sh. Pralhad Joshi, Union Minister of Coal, Mines and Parliamentary Affairs was of the view that each Non-Official Director acts as an important pillar of the Board of Directors. They help in bringing an independent judgment on the Board’s deliberations and satisfy themselves on the integrity of financial information. NODs ensure that financial controls and the systems of risk management are robust and defensible and safeguards the interests of all stakeholders, particularly the minority shareholders.
A presentation by Ministry of Coal and Ministry of Mines on the current perspective and future vision was followed by interactive session with the NODs who provided their suggestions and feedback. Dr. Anil Kumar Jain, Secretary, Ministry of Coal, pointed out that NODs should also address the larger concerns of the coal sector in view of the push of alternatives/renewables- it was also conveyed that this interaction of the Ministries and the NODs would be made a regular feature now and that all the suggestions have been noted for further deliberations by the Ministries.
