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GAIL, PEC get awards for most efficient state-run firms

Friday, 22 April 2011, 09:30 Hrs
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New Delhi: State-run Gas Authority of India Ltd (GAIL) and international trading firm PEC Ltd have won awards for being the most efficient public sector undertakings (PSUs) in India.

In its third edition of the PSU awards 2011, business magazine Dalal Street Investment Journal has also awarded Chennai Petroleum Corporation for the most significant turnaround.

The magazine has conferred awards in 17 different categories.

The award for the highest sales growth enterprise was given to National Thermal Power Corporation (NTPC) and for fastest growing enterprises to REC, IRCTC, and Indian Oil.

IDBI Bank was conferred the best bank award while United India Insurance Company was adjudged the best insurer.

"I congratulate all the award winning PSUs for their impressive performance and the returns they have provided to the government," Power Minister Sushil Kumar Shinde said after conferring the awards here.

The magazine has also honoured Indira Gandhi National Open University (IGNOU) for its significant contribution in providing education at an affordable cost.
Source: IANS
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