OFB

Govt constitutes EGoM headed by Rajnath to oversee OFB’s corporatisation

The government has constituted an Empowered Group of Ministers (EGoM) under the chairmanship of Defence Minister Rajnath Singh to oversee the process of corporatisation of the Ordnance Factory Board (OFB), the defence ministry said on Friday.

As part of the “Aatmanirbhar Bharat” (self-reliant India) initiative, the government had announced on May 16 that it would improve the autonomy, accountability and efficiency in ordnance supplies by converting the OFB, which is a subordinate office of the defence ministry, into one or more government-owned corporate entities.

On Friday, the ministry stated that the EGoM will “oversee and guide the entire process (of corporatisation), including transition support and redeployment plan of employees while safeguarding their wages and retirement benefits”.

Others in the EGoM are Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, Law Minister Ravi Shankar Prasad and Labour Minister Santosh Kumar Gangwar, the statement said.

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