Chandigarh, Aug 3 (UNI) To ensure efficiency and accountability in the functioning of state Public Sector Undertakings (PSU), boards and corporations, the Managing Directors of these organisations or units would each sign Memorandum's of Understanding (MoU) with the Administrative Secretaries of the concerned departments.

A decision to this effect was taken by the Punjab Chief Minister Parkash Singh Badal at a meeting of the Cabinet Sub Committee on disinvestment here today.

Mr Badal asked Chief Secretary R I Singh to immediately initiate this process thereby stipulating the broad guidelines to be incorporated in the MoUs. The basic objective of this exercise was to fix targets and performance indicatives so as to fix responsibility of the person at the helm of affairs to bring efficiency, responsiveness and accountability in the system besides improving the profitability of the organisation.

Mr Badal pointed out that all the MDs would be required to ink a MoU with the concerned department on the broad parameters which would be finalised in the core committee headed by the Chief Secretary. The Chief Minister hoped that this system would prove to be a milestone in revitalising the working of the PSUs in the new scenario.

Prominent amongst others who were present in the meeting included Cooperation Minister Capt Kanwaljit Singh, Food and Supplies Minister Adesh Pratap Singh Kairon, Finance Minister Manpreet Singh Badal, Forest and Medical Education Minister Tikshan Sud, Chief Secretary R I Singh, Principal Secretary to Chief Minister D S Guru, Principal Secretary Finance D S Kalha, Principal Secretary Cooperation Kusumjit Sidhu, Principal Secretary Industries A R Talwar, Principal Secretary Tourism and Cultural Affairs Geetika Kalha and Secretary Information and Public Relations Jagjit Puri.

UNI