CPSEs like Coal India, NHPC, MMTC and others functioning without regular chief execs: GM Siddeshwara

NEW DELHI: The government has said that 32 central public sector enterprises are functioning without a regular chief executive. The list includes marquee companies such as Coal India, NHPC, MMTC and Power Finance Corporation.

“These posts are being manned by making additional charge arrangements so that the regular functioning of concerned CPSEs is not affected,” minister of state for heavy industries GM Siddeshwara said on Tuesday.The government has proposed to divest 10% stake in Coal India and 11.36% stake in NHPC. The other companies on the list include telecom operators BSNL and MTNL, and Airport Authority of India (AAI).In case of Coal India, the government has not been able to appoint a chairman and managing director since June, when the then chairman S Narsing Rao resigned to take over as principle secretary in the newly founded state of Telangana. AK Dubey, an additional secretary with the coal ministry is currently holding the additional charge as CMD.

Hydro power firm NHPC has been without a full functioning chairman since 2011. The current chairman RST Sai has been holding the additional charge since June 2014.

Another power sector firm, Power Finance Corporation has had no regular CMD since September 2013. The government had refused to give an extension to the then chairman Satnam Singh, pending vigilance enquiries. The additional charge as CMD is being handled by MK Goel, who is also director (commercial) in the firm. The other companies functioning without a full-time chairman include sick firms such as Hindustan Photo Films, HMT Chinar Watches and Hindustan Cable. The government has floated a Cabinet note proposing the closure of six companies under the department of heavy industry.