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Mr Modi government reappoints Mr AK Sharma as IOC Director-Finance

Gasoil News - Published on Wed, 20 Feb 2019

Image Source: ET EnergyWorld
PTI reported that the government has reappointed Mr AK Sharma as the Director (Finance) of Indian Oil Corp - a first under Prime Minister Mr Narendra Modi when a PSU director has been reemployed in the same position after retirement. Mr Sharma, who superannuated as Director (Finance) of IOC on January 31, has been appointed for three months in the same position, IOC said in a regulatory filing. The reappointment is with effect from February 18, the company said without giving reasons for the reemployment.

Officials said Mr Sharma, who as the finance head of IOC was also in charge of pricing of petrol, diesel and other fuels, has been reemployed keeping in mind the impending general elections. The government, they said, does not want to take chances with retail prices and has preferred an old and experienced hand to handle it.

Sources said a proposal was moved to reemploy Sharma for six months but Oil Minister Dharmendra Pradhan curtailed it to three months before forwarding it to the Appointments Committee of Cabinet. The ACC approved his reemployment for three months.

Source :

Posted By : Rabi Wangkhem on Wed, 20 Feb 2019
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