Putting an end to the ongoing controversy over search for the candidate for the top post of stare-owned Oil and Natural Gas Corporation (ONGC)—country’s richest oil and gas exploration firm-- the government has formally appointed R S Sharma as the regular Chairman and Managing Director (CMD) of the ONGC.
Mr Sharma, who has been heading the ONGC in a temporary capacity ever since he took over from Subir Raha in May 2006, formally took over the charge as the regular CMD after the Petroleum Ministry issued the formal notification, official sources told Deccan Herald.
The Petroleum Ministry, which is the Administrative Ministry of the ONGC, issued the notification after the Prime Minister Manmohan Singh approved the selection of Mr Sharma to head the ONGC, sources said.
Earlier, Mr Sharma was selected for the ONGC’s top post by the specially created six-member Search Committee. Mr Sharma’s appointment will be valid till January 2011, when he superannuates. Mr Sharma is now 56 year old.
Mr Sharma was selected for the top job by the Search Committee headed by Public Enterprises Selection Board (PESB) Chairman NK Sinha, after interviewing 28 candidates in the first week of June. Though Mr Sharma was selected for the ONGC’s top job by the PSEB early this year his appointment was withdrawn as the Prime Minister’s Office (PMO) wanted the selection process widened by inviting candidates also from the private sector.
The government decision to widen the selection process by inviting candidates from the private sector triggered controversy  with the Left Parties protesting any move to induct person from outside.