Policy

Govt constitutes EGoM to guide corporatisation of Ordnance Factory Board

Our Bureau | Updated on September 11, 2020 Published on September 11, 2020

The Terms of Reference of the Empowered Group of Ministers also include a decision on the conversion of OFB into a single Defence Public Sector Undertaking (DPSU) or as multiple DPSUs.

The centre has constituted an Empowered Group of Ministers (EGoM), under the headed by Defence Minister Rajnath Singh, to oversee and guide the entire process of the corporatisation of Ordnance Factory Board (OFB).

The EGoM will also deliberate on the transition support and redeployment plan of employees while safeguarding their wages and retirement benefits.

An official statement said that the other ministers in the EGoM are Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, Minister for Law and Justice Ravi Shankar Prasad, Minister of State for Labour and Employment Santosh Kumar Gangwar and Minister of State for Personnel, Public Grievances and Pension Jitendra Singh.

The Terms of Reference (ToR) of the EGoM also include a decision on the conversion of OFB into a single Defence Public Sector Undertaking (DPSU) or as multiple DPSUs.

 

BusinessLine reported earlier this week that Ordnance factories would be bunched on similarities and corporatised into defence PSUs. It was also reported that a Group of Ministers is going to take a call on the proposed corporatisation of the Ordnance Factory Board.

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Published on September 11, 2020
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