Modi government reappoints AK Sharma as IOC Director -Finance

NEW DELHI: The government has reappointed A K Sharma as the Director (Finance) of Indian Oil Corp a first under Prime Minister Narendra Modi when a PSU director has been reemployed in the same position after retirement. 

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

Officials said 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. 

Last time, such a phenomenon happened on December 31, 2013, when B Prasada Rao was given a two-year extension as Chairman and MD of state-owned power equipment maker BHEL on the day he attained the superannuation age. 

“It is hereby notified that in terms of a letter by ministry of petroleum and natural gas dated February 15, 2019, the Board of IOC has appointed A K Sharma as Additional Director and designated as Director (Finance) of the company with effect from February 18, 2019, for a of three months,” IOC said in the regulatory filing.