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Vacancies in PSUs
A parliamentary committee has expressed deep concerns over bulk vacancies in government-run companies or Central Public Sector Enterprises (CPSE) and Department of Investment and Public Asset Management (DIPAM) under the finance ministry, calling it an “acute governance deficit
A parliamentary committee has expressed deep concerns over bulk vacancies in government-run companies or Central Public Sector Enterprises (CPSE) and Department of Investment and Public Asset Management (DIPAM) under the finance ministry, calling it an “acute governance deficit.”
The finance standing committee led by senior BJP MP Bhartruhari Mahtab said in its latest report, “It is deeply concerning that 53 CPSEs continue to operate without regular Chairmen and Managing Directors (CMDs), while a staggering 70% of Independent Director posts (533 out of 758) remain vacant.”
The committee noted a “systemic governance deficit” across CPSE “characterised by a “triple crisis” of leadership vacancies, funding shortfalls, and state capability gaps.”
The report maintained that as of February 2026, 53 CPSEs, including strategic entities such as Bharat Petroleum Corporation Ltd. (BPCL) and BSNL, are operating without regular Chairmen and Managing Directors (CMDs), relying on temporary “additional charge” arrangements. This crisis in oversight is further acute for Independent Directors, with 533 vacancies against a requirement of 758—a staggering 70% vacancy rate.
While the government informed the committee that the selection to Board-level posts is undertaken by the Public Enterprises Selection Board (PESB), Mahtab’s panel labelled the reply as “largely procedural and fails to offer concrete, outcome-oriented solutions to resolve the acute governance deficit.”
The Committee also expressed deep concern that DIPAM, despite overseeing an ambitious value maximization agenda, is operating with a crippling 43% vacancy rate. Maintaining only 51 officers against a sanctioned strength of 89—with critical shortages at the Director (11 vacancies) and Under Secretary (8 vacancies) levels. The panel said it “severely jeopardizes the Department’s ability to execute complex transactions like the IDBI Bank sale or finalize CPSE MoUs. Such significant manpower shortages in a field requiring highly specialized financial and legal expertise 7 undermine the Department’s capacity to effectively manage the disinvestment target and the recycling of prime real estate assets.”
