Institute of Cost Accountants of India organized webinar on Assam PSUs

GUWAHATI: The Institute of Cost Accountants of India organized a panel discussion and brainstorming session on 'Assam state PSUs: Journey to scale New Heights´ through a webinar on August 5.

The discussions were made in presence of Chief Guest of the program Dr. M Ariz Ahammed, Principal Secretary, Government of Assam, Department of Public Enterprises; the President of Institute of Cost Accountants of India Balwinder Singh and Vice President of the Institute CMA Biswarup Basu.

The program was attended in large numbers by MDs, CFOs, CEOs and professionals especially from the field of finance from various industries across the country. The deliberations were mainly on the present Structure of Assam State PSUs, Performance Monitoring and Evaluation, steps to improve production, productivity and capacity utilization, steps to improve cost management and profitability, strengthening corporate governance, CSR, revival strategies in post COVID era, function of cost & management accountants as board members, CFOs and internal auditors to the public sector enterprises.

The Principal Secretary expressed his satisfaction and appreciated the role being played by the Institute in this regard. It emerged from the discussions that for improving performance and for revival of many of the PSUs, more and more professionals such as the Cost & Management Accountants should be inducted in the various positions of Director (finance) and CFOs as their approach in improving productivity, optimal capacity utilization, Cost Management etc. is unique and beneficial to strengthen the corporate financial structure of these units. The experts felt that such actions would not only strengthen the PSUs but also bring in more economic development to the State.

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