Public sector undertakings may finally get a new lease of life if the government decides to recruit outside talent for key positions in these companies.

The government proposes to make the selection of over 675 executives of central PSUs, including chairmen, managing directors and functional directors, more open. There are nearly 100 vacancies in top executive positions across 240 PSUs.

The government is planning to advertise for these positions instead of recruiting from the same company or from a company engaged in a similar line of business, according to the current practice.

Vacancies were advertised only when the government could not meet them within the existing pool, said a senior government official. This has also come in the wake of demand made by state public enterprises that their managers should also be considered for top jobs in the central government PSUs.

Pay scales are determined as per the schedule of the enterprise concerned. Public enterprises are categorized into four schedules, based on various factors.

(The Economic Times)