Govt has a Proposal for Corporatization of Ordnance Factories Board (OFB)
Govt has a proposal to convert ordnance factories into a Public Sector Unit – Minister of State for Defence Shri Shripad Naik on 18.11.2019 in Rajya Sabha
Proposal for Corporatization of Ordnance Factories Board
Raksha Rajya Mantri Shripad Naik replied to the question in Rajya Sabha today (18th November 2019) about the corporatization of OFB as follows;
“There is a proposal to convert Ordnance Factories under the OFB into a 100% Government owned public sector unit to provide functional and financial autonomy and managerial flexibility so as to enable the organisation to grow at a faster pace and play a greater role in defence preparedness of the country while also adequately safeguarding the interests of the workers”.
This above information was given by Raksha Rajya Mantri Shri Shripad Naik in a written reply to Shri M. Shanmugam Rajya Sabha today.