The Department of Public Enterprises (DPE) has asked various ministries and departments to ensure that the CPSEs under their charge follow the austerity guidelines issued by the Finance Ministry.
As per the guidelines, even Chief Executive Officers (CEOs) of these CPSEs would have to take economy class in the air travel.
There would be a complete ban on holding meetings and conferences at five star hotels, while exhibitions and conferences abroad would be “strongly discouraged.”
According to the DPE guidelines, CEOs of the state-owned firms would be responsible for ensuring compliance of these austerity measures outlined for fiscal 2009-10. The compliance report would be placed before the board of directors on a quarterly basis.
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