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This is an archive article published on June 9, 2008

Coalition dharma in PSUs

The political parties invented it and now the public sector seems to be following suit.

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The political parties invented it and now the public sector seems to be following suit. Taking a cue from the rotational system adopted by political parties for the appointment of chief ministers in coalition governments, two PSUs are said to have agreed on a similar arrangement for the CEO’s post for their joint venture. BHEL and NTPC, both navratna PSUs, recently formed a 50:50 joint venture to produce heavy equipment for the power sector. The new company inaugurated its office in Noida last week but is still to install a CEO. Both BHEL and NTPC want their man to be the first CEO and sources said as of now BHEL has the upper hand.

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