Technocrat to be Director of Finance in MeECL

Newmai News Network
SHILLONG, Mar 17: The Meghalaya government is examining for appointment of a technocrat as Director of Finance (DoF) in the Meghalaya Energy Corporation Limited (MeECL).
"We are examining for bringing in a Director of Finance on the basis of lateral entry because that would bring in a lot of value to the Corporation (to have somebody) who have rich experience and have worked in bigger PSUs," Minister in-charge Power James K Sangma told the Assembly on Wednesday.
He was replying to a supplementary query raised by East Shillong Ampareen Lyngdoh on the issue. Lyngdoh has suggested the need to appoint a technocrat so as to have check and balance in the system.
When Rangsakona legislator Zenith Sangma expressed concern that the same person was appointed as Chairman and Managing Director (CMD) and Director of Finance, the Minister said that a government officer has always been appointed to the post of a Director of Finance.
"Accordingly, the MeECL has written to the state government to provide for an officer to be placed as Director of Finance. Unfortunately, the department of personnel has expressed its inability to do so due to shortage of officers," he added.
He however said that the MeECL has already started exploring whereby the Director of Finance can be sort on the basis of lateral entry.
On the other hand, the Minister said that share holding and Board of Directors are two different things and all is being done as per the Company Act when Zenith wanted to know why Secretary in-charge Power department was not included as a member of the Board of Directors despite being the second largest share holding of the company.