Hindustan Petroleum Corporation (HPCL) has inked Memorandum of Understanding (MoU) with Ministry of Petroleum & Natural Gas (MOP&NG) for the year 2013-14. The MoU targets comprise both Financial and Physical parameters covering entire gamut of operations of the Corporation.
The MoU targets are set as per DPE guidelines in consultation with MOP&NG and approved by DPE. The performance of the Corporation for the year vis-a-vis MoU targets is evaluated by DPE and rating given. The performance related Pay is directly linked with MoU rating of the Corporation.
HPCL has been achieving ‘Excellent’ rating since inception of MoU system in 1992. For the year 2011-12 also, the company had achieved Excellent rating with a score of 1.037, which is the best amongst all the PSUs under MOP&NG.
