Corporate COs told to tackle governance woes

BANGALORE: Former Chief Justice of Supreme Court MN Venkatachalaiah on Saturday urged corporate companies to pool five per cent of their earnings to address the problems in governance and generate new ideas and approaches of problem solving.Speaking at the release of ‘Memoirs - A Life and its Lessons’ by the Founder of Public Affairs Centre Dr Samuel Paul, Venkatachalaiah called upon corporate professionals to fight the problems of stereotype speculation.“The corporates should set up teams and focus on areas that need attention. They should pool up at least 5 per cent of their earnings towards this. Corporates have all the money and technology in the world to come up with new ideas and approaches,” he observed.Lamenting over the ‘mess’ that society had descended to, Venkatachalaiah said, “I don’t think we have answers to the magnitude of problems we face. People have become ungovernable, as they have lost faith in the rulers (government).” He also said that the country requires 750 to 1000 more universities.