Cabinet approves the Proposal for Amendment to the Resolutions dated 03rd March 1987 of the Public Enterprises Selection Board (PESB)

The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its ex-post facto approval to the proposal for Amendment to the Resolutions dated 3rd March 1987 of the Public Enterprises Selection Board (PESB). The proposed amendments are as under:

(a) selection of candidates from State Public Enterprises and Private Sector as non-internal candidates for a period of five years for appointment in Central Public Sector Enterprises (CPSEs);

(b) holding of office by the Chairperson and Members of the Public Enterprises Selection Board (PESB) for a period of 3 years from assumption of charge or until attaining the age of 65 years or until further orders whichever is earlier;

Background

To broadbase the catchment for senior positions in Central Public Sector Enterprises (CPSEs), the policy of allowing candidates from State Public Sector Enterprises (SPSEs) and Private Sector has been in place. This is proposed to be further extended for another five years with other requisite changes for effective discharge of Public Enterprises Selection Board (PESB) functions.

The amendment will continue to provide a wider pool of professionals for selection by impact allowing the candidates from State Public Sector Enterprises (SPSEs) and private Sector to be considered for senior positions in the Central Public Sector Enterprises (CPSEs).

Central Public Sector Enterprises (CPSEs) would also benefit by the skill-sets and domain expertise of those coming from the State Public Sector Enterprises (SPSEs) as well the private sector. It would also ensure that the Central PSE senior management gets the benefit of the perspective gained both within and outside.

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