To help fill several top-level positions at public sector companies, the government has drafted a clear set of rules to allow heads of private companies to apply for these roles.
The new application criteria, which are expected to go into effect on June 1, will ask interested candidates to provide details of the earnings of their private companies -- such as audited annual turnover for the past three years -- as well as their salaries in terms of cost to company (CTC) among other information, ET reported.
Almost 75 senior leadership positions at public sector units lie vacant, including top posts at PSUs like like ONGC, Coal India, NHPC, IRCTC, Northern Coalfields, among others.
Last year, the government announced its intention to allow private sector executives but few applications were received because of the lack of clear guidelines, according to the report.