NMDC to get a full time chairman before year-end: Steel Min

State-owned iron ore miner NMDC will get a full time chairman by year-end, Steel Minister Beni Prasad Verma said today.

The largest domestic iron ore mining firm is without a full time chairman for the past 23 months after its last full time head Rana Som had retired on December 31, 2011. Steel Authority of India Ltd (SAIL) chairman C S Verma is currently officiating as NMDC head also.

"I assure you NMDC will get a full time before December- end. The (appointment) process is on, let the vigilance clearance come (for the selected person)," Verma told reporters here after inaugurating Steel Pavilion at the India International Trade Fair.

Efforts to appoint a full time chairman and managing director for NMDC has been futile as the Public Enterprises Selection Board (PESB) selected candidate M S Rana did not get vigilance clearance for long and then, the panel was scrapped by the Steel Ministry, the parent department of the company.

Later, another panel, headed by Planning Commission Member Arun Maira, recommended names of Narendra Kothari, CEO of SAIL Burnpur plant and T K Lahiry, CMD of Bharat Coking Coal Ltd in May. However, vigilance clearance for the two are still awaited.

When asked about this, the Steel Minister said that "I do not have any issue with the panel selected by the Maira Committee. Let the vigilance clearance come."

Meanwhile, the Steel Ministry is in the process of appointing another officiating head for NMDC, replacing SAIL chairman Verma as it wants him to focus on his own company.

It has recommended the name of Syedain Abbasi, Joint Secretary in the Ministry, as new interim head of the company to the Appointments Committee of the Cabinet. Abbasi is already on the Board of NMDC as a government nominee director.

He will be the third interim head of the iron ore miner since retirement of Rana Som, after its Director (Technical) N K Nanda and SAIL chairman Verma.