In a rare move, the government has re-appointed A K Sharma as the Director (Finance) of Indian Oil Corp (IOC). This is a first under the current government at the Centre, where a PSU director has been re-employed in the same position after retirement.
Sharma, who was superannuated as Director (Finance) of IOC on January 31, has been appointed for three months in the same position, the company said in a regulatory filing. It, however, did not divulge any specific reasons for his extension.
However, officials with knowledge of the matter said Sharma, who as the finance head of IOC was also in charge of the pricing of petrol, diesel and other fuels, has been re-employed keeping in mind the impending general elections.
