Govt to set up committee within week to choose new ONGC CMD

New Delhi, Feb 7 (UNI) Petroleum Minister Murli Deora today said a committee would be set up within a week to choose ONGC's new chairman and managing director in three months.

''By next week, a new committee will be set up,'' Mr Deora told reporters here.

The Public Enterprises Selection Board (PESB) had, five months ago, selected Mr R S Sharma, Director (Finance), ONGC, for the top job in the petroleum and gas major but the government yesterday, in a surprise move, scrapped the choice.

''After considering all circumstances of the case, particularly from the point of ONGC's critical importance for energy security of the country, the competent authority has desired that the zone of consideration for the selection of CMD, ONGC, should also include persons from outside the PSUs to have a wider choice,'' an official statement said tonight.

It said that, towards this end, the Petroleum Ministry will formulate detailed requirements and qualifications for the post.

The government also decided that the composition of the Selection Committee should undergo some change with the inclusion of Secretary, Petroleum and Natural Gas, as member and addition of one or two outside experts.

''The Ministry of Petroleum and Natural Gas would obtain the approval for the composition of this search-cum-selection committee within one week,'' the statement said.

The statement said the ''competent authority'' had not recorded any adverse finding regarding the candidature of Mr Sharma and Mr A K Hazarika, Director (Onshore).

''In fact, it has been specifically noted that they are not debarred from consideration and that Mr Sharma should continue as CMD till this process is completed,'' it said.

''Even though the existing procedure did not debar non-PSU candidates and indeed some did appear for the interview, the Competent Authority has thought fit to stress on a wider search and selection process and a level playing field to candidates from the PSU and from the private sector and the government.

''This process is to be completed within 3 months,'' the statement added.

Mr Sharma had been selected by the PESB for the key post on August 30, 2006. He has been functioning as acting CMD since May 2006, when the government had decided not to extend the term of then CMD Subir Raha.

UNI