Now Reading: 53 CPSEs lack regular CMDs, 70% independent director posts vacant
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53 CPSEs lack regular CMDs, 70% independent director posts vacant
A parliamentary committee has flagged severe vacancies across government-run companies and the finance ministry’s asset management department. Its report says 53 Central Public Sector Enterprises, including BPCL and BSNL, had no regular…
The Story in Brief
A parliamentary committee has flagged severe vacancies across government-run companies and the finance ministry’s asset management department. Its report says 53 Central Public Sector Enterprises, including BPCL and BSNL, had no regular chairmen and managing directors as of February 2026. They were being run through additional-charge arrangements.
The committee also found 533 of 758 independent director positions vacant, a 70% shortfall. DIPAM had 51 officers against a sanctioned strength of 89, leaving 43% of posts vacant. The panel said the government’s explanation that the Public Enterprises Selection Board handles appointments was procedural and offered no concrete fix. It warned that staff shortages could hinder transactions such as the IDBI Bank sale and CPSE agreements.
The Indian Opinion
Claims that every public sector company is failing would go beyond what this report establishes. But treating temporary leadership and missing independent directors as routine is equally careless, especially in firms handling public money. The government needs a published timetable for appointments and a clear account of DIPAM’s staffing plan. The first test is whether the 533 vacant director posts and 53 CMD positions fall before the next review.
Source: hindustantimes.com
This story was synthesised by AI from the source linked above.
