Power sector PSUs to see change of guard
The power sector's charged up. From a star-powered mega issue to PSU headhunt. But the ultra mega projects may be short circuited.
By Raja Awasthi, TNN |
NEW DELHI: It's time for a high-voltage headhunt. All the top public sector units in the power sector are going to see a change of guard in the next six to eight months, as the heads of at least five PSUs are retiring in 2008. And with this, the hunt for new incumbents has begun. ”This year will be a significant one with chairmen of many power sector PSUs retiring.
This comes at a time when this sector is looking aggressively at generating more power. The new appointments are crucial as the government is aiming at generating more than 78,000 MW of new capacity during the 11th Five-Year Plan period ending 2012,” a senior power ministry official told SundayET.
The PSUs which will see a change of guard include NTPC, PowerGrid Corporation India (PGCIL), Power Finance Corporation (PFC), Damodar Valley Corporation (DVC) and North-Eastern Electric Power Corporation. According to sources, hunt for the successors has started in right earnest. The Public Enterprises Selection Board (PSEB) has shortlisted two senior NTPC senior officials — Chandan Roy, director (operations) and R S Sharma director (commercial) as the successor to NTPC chairman T Sankaralingam.
In fact, both the names have been forwarded to the appointment committee of the Cabinet which is headed by the Prime Minister and a decision is expected soon. For the other four PSUs, PSEB is in the process of shortlisting the names and in the next one month, they will be forwarded to the committee, according to sources. PGCIL chairman R P Singh will step down on July 31 along with PFC chairman V K Garg. The tenure of J Barakakati, chief of North-Eastern Electric Power Corporation, ends in August.
The power sector financing major Power Finance Corporation (PFC) is gearing up to meet the government’s ambitious goal of ‘power to all by 2012’ and is all set to establish a Rs 200-crore special purpose vehicle (SPV) in the tax haven of Mauritius. The SPV would fund government-owned power utilities that would procure power equipment from abroad.
This comes at a time when this sector is looking aggressively at generating more power. The new appointments are crucial as the government is aiming at generating more than 78,000 MW of new capacity during the 11th Five-Year Plan period ending 2012,” a senior power ministry official told SundayET.
The PSUs which will see a change of guard include NTPC, PowerGrid Corporation India (PGCIL), Power Finance Corporation (PFC), Damodar Valley Corporation (DVC) and North-Eastern Electric Power Corporation. According to sources, hunt for the successors has started in right earnest. The Public Enterprises Selection Board (PSEB) has shortlisted two senior NTPC senior officials — Chandan Roy, director (operations) and R S Sharma director (commercial) as the successor to NTPC chairman T Sankaralingam.
In fact, both the names have been forwarded to the appointment committee of the Cabinet which is headed by the Prime Minister and a decision is expected soon. For the other four PSUs, PSEB is in the process of shortlisting the names and in the next one month, they will be forwarded to the committee, according to sources. PGCIL chairman R P Singh will step down on July 31 along with PFC chairman V K Garg. The tenure of J Barakakati, chief of North-Eastern Electric Power Corporation, ends in August.
The power sector financing major Power Finance Corporation (PFC) is gearing up to meet the government’s ambitious goal of ‘power to all by 2012’ and is all set to establish a Rs 200-crore special purpose vehicle (SPV) in the tax haven of Mauritius. The SPV would fund government-owned power utilities that would procure power equipment from abroad.
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