People's Democracy(Weekly Organ of the Communist Party of India (Marxist)
February 18, 2007
CITU Asks Govt To Come Clean
IN a statement issued by its president Dr M K Pandhe on February 7, the Centre of Indian Trade Unions (CITU) has expressed deep concern over the spectre of uncertainty caused by the absence of a regular chief executive of ONGC, India’s flagship company and a leading navaratna PSU. The CITU felt shocked that the government, which otherwise does not lose any opportunity to undermine the PSUs, could not decide a successor to fill the post of CMD for nine months since May 2006. For the highest dividend paying PSU, which is going for massive modernisation for venturing into frontier areas of exploration, this is the height of adhocism shown by the government which, for inexplicable reasons, had no succession planning for the ONGC.
The CITU said the government owes a reply as to how it has taken more than five months to finalise its decision on a panel recommended by Public Enterprises Selection Board (PSEB) and the reported scrapping of the panel which has led to further uncertainty in the decision making process. This is likely to affect the image of the company that has established a global identity.
The CITU has demanded that the government come clean on the issue and appoint a regular CMD at the earliest to allay the widespread apprehension that, other than the government’s indecision, there is a deeper motive to destabilise the ONGC in the interest of Indian and multinational corporates in the upstream oil sector. (INN)