Govt to name ONGC chief by May-end

A day after unceremoniously culling the appointment of R S Sharma as head of Oil and Natural Gas Corporation, Petroleum Minister Murli Deora today said that  the government will appoint a new chairman and managing director (CMD) by May-end.

"A new committee will be formed within a week (to hold interviews of potential candidates)," Deora said.

Sharma, who has been officiating as ONGC CMD since May-end 2006, when the government decided not to extend the term of Subir Raha, was selected for the top job by the Public Enterprise Selection Board on August 30, 2006.

But despite getting all necessary clearances from the CBI, IB and CVC, the prime minister's office yesterday evening scrapped the recommendations and called for fresh interviews.

Deora said he did not know the reasons why Sharma's appointment was not confirmed. "I don't know. Go and ask them," he said.

The search panel will be headed by PSEB chairman and would comprise members of PSEB, Petroleum Secretary and two independent eminent personalities, Petroleum Secretary M S Srinivasan said.

"I think the entire process will get over in three months time," he said.

Till now, all appointments to the board of public sector companies - chairman or directors - were done on the basis of recommendations of the PSEB. This is the first instance that its authority has been undermined and independent members included in the selection process.