5 non-official directors appointed in EIL, OIL and Bharat Dynamics Limited; More on eligibility criteria

THE government has appointed five distinguished individuals as non-official directors in the board of three Central Public Sector Enterprises (CPSEs), two under the ministry of petroleum and one under the ministry of defence. The Appointments Committee of the Cabinet (ACC) on Thursday approved the proposal of appointing…

139 top PSU jobs including 46 CMD posts are lying vacant; Govt's keen to rope in private sector honchos

IT’S official now. As many as 139 top posts of Central public sector enterprises — 46 posts of chief executives and 93 posts of directors — have been lying vacant, and the government is keen to rope in suitable candidates from the private sector as well. In a recent reply to a question in Rajya Sabha, minister of state in the ministry of heavy industries and public enterprises Babul Supriyo listed out the criteria for private sector executives to apply for the posts of CMDs and directors. According to that, an executive from a…

When PESB interviews but finds no one suitable as directors or CMDs of PSUs; List of instances

HAVE India’s public sector enterprises ceased to get quality people to man their boards? The answer may not be a straight “yes”, but there have been at least five instances in the last six months in which the Public Enterprises Selection Board or the PESB that selects personnel for the posts of CMD and directors in PSUs, found no suitable candidates even after…

10 Things to Know: 234 operating PSUs, their income, profit, foreign exchange and tax to Govt

Kapil Dev Tripathi: DPE Secretary

ON APRIL 16, the Central government issued an office memorandum directing the ministries and departments to issue instructions to all concerned for not utilizing the infrastructure of any Central Public Sector Enterprise (CPSE), adding that such use shall attract suitable action against them. Whereas the government bigwigs often take CPSEs as cash cows, the contribution of 290 CPSEs (out of which 234 operating) to the nation is disregarded. Based on the Public Enterprises Survey, 2013-14, brought out by the department of public enterprises (DPE), here are 10 interesting facets of PSUs.

Slowdown, Social Uplift, U’khand: How govt looks forward to CPSEs in crises

IN YET another instance of the government banking on Central Public Sector Enterprises during crises, the department of public enterprises (DPE) has relaxed norms to state that relief and rehabilitation projects undertaken in flood-hit Uttarakhand during 2013-14 by the CPSEs would be treated as projects in the backward region, thereby qualifying those for the purpose of MoU evaluation. Further, the limit of 5-10% of annual budget…

Will CMDs of public sector companies be given a fixed 3-year-tenure?

A FEW top bureaucrats’ posts such as cabinet secretary, home or defence secretary, has a fixed tenure of two years. Their retirement age does not matter as long as the concerned officer is appointed before he attains 60. Now, the government is planning to have a fixed tenure of three years to CMDs and directors of…

Failed to recruit SC, ST & OBCs? PSU executives’ packages may take a hit

Comply Govt Guidelines, Take Incentives

PROFIT making Central public sector enterprises may soon go for a drive to recruit SC, ST and OBC candidates, as the government is tweaking the existing MoU, or target-based incentive system, to bring “reservation for SC, ST and OBC in appointment” under the system. In other words, if the CPSEs fail to recruit candidates from those sections of social strata according to the guidelines of department of public enterprises (DPE), the rating of the companies will take a hit. According to the MoU system, securing the best rating means financial incentives for its executives up to 200% of the salaries. And that makes CMDs and all top executives work harder to achieve pre-determined targets. Here are more about the proposed changes in the MoU system:

JS level officers to be appointed as CVOs in Ratna Cos; to get better perks

THE government has decided to appoint only high ranking officers at the level of joint secretaries as chief vigilance officers (CVO) in top public sector companies. Those vigilance officers to be engaged in Schedule ‘A’ of Central Public Sector Enterprises, often called Ratnas or jewels, will be accorded the status and perks of a functional director of the Board, but they will not become…