Former bureaucrats, bankers likely to be on oil PSU boards

Former bureaucrats, bankers likely to be on oil PSU boards
New Delhi: The government is likely to appoint former Home Secretary GK Pillai, former Foreign secretary Shyam Saran and former SBI Chairman O P Bhatt and several other bureaucrats as independent director on the boards of oil PSUs.
Sources said Pillai has been shortlisted for Hindustan Petroleum Corporation Ltd (HPCL) board, while Saran has been chosen for Indian Oil Corp (IOC) board.
For the three vacancies in Oil and Natural Gas Corp (ONGC), former Expenditure Secretary Susma Nath, Bhatt and IIM-A Director S K Barua have been shortlisted.
The Reserve Bank of India's former Deputy Governor Shyamala Gopinath and Nath will share the board of IOC with Saran.
Gopinath, along with former Department of Industrial Policy and Promotion (DIPP) Secretary, R P Singh, former Minority Affairs Secretary Vivek Malhotra and retired Chairman and Managing Director (CMD) Bank of Baroda Anil K Khandelwal have been chosen for GAIL.
For HPCL, former Revenue Secretary P V Bhide, IIM-A Professor, G Raghuram and Canara Bank CMD A C Mahajan have been recommended besides Pillai.
Sources said names have been approved by government head hunter public enterprise selection board (PSEB) and after the approval from the oil ministry have been forwarded to cabinet committee on appointment (ACC) for formal go-ahead.
ACC is headed by Prime Minister Manmohan Singh and also comprises Home Minister P Chidambaram.