By the Way

PESB: Brokers’ den

The Public Enterprises Selection Board (PESB) needs to be overhauled by Narendra Modi at all costs. The term of the present chairman, Atul Chaturvedi, ends this August. Chaturvedi has earlier served as Secretary, Steel Ministry. There was no way the present government could have removed him from the coveted post despite knowing that all is not well in the organisation. Sources disclose that the situation is so bizarre that candidates who would appear for the interview for the CMD or Director post were contacted by brokers to fix the ‘deal’ for selection. The story is unfolding now; there have been two very important selections of CMDs this year. The public sector undertaking, for which the CMD was selected, is attached to the Ministry of Defence. The deal was brokered by an India-based Russian agent. The methodology was unique as the candidate appeared for a mock interview at a designated place where the answers of all expected questions for the actual interview were briefed. And, lo and behold, the candidate cleared it with flying colours. Another CMD, who got selected, is from the mines sector. He was also interviewed in the same fashion. The deal was brokered by a friend of Chaturvedi. The CMD of the mining PSU was also at the top in the panel. One awaits the clean-up operation in the PESB. The new incumbent must be of repute and integrity.

Vol. 9, Issue 5 | August 2015

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