In a move that may inject fresh energy to ailing public sector enterprises,the government on Wednesday approved a proposal to allow candidates from the private sector to work in central public sector enterprises (CPSEs) for a period of five years.
The decision was taken by the Union Cabinet chaired by PM Narendra Modi. The cabinet has given its ex-post facto approval to the proposal for amendment to the resolutions dated March 3, 1987 of the Public Enterprises Selection Board (PESB).
“The proposed amendments are - selection of candidates from state public enterprises and private sector as non-internal candidates for a period of five years for appointment in CPSEs.
“Holding of office by the chairperson and members of the PESB for a period of three years from assumption of charge or until attaining the age of 65 years or until further orders whichever is earlier,” an official statement said. It said that to broad base the catchment for senior positions in CPSEs, the policy of allowing candidates from state PSEs and private sector has been in place.