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ONGC chief's term to be reduced to just one year for quarterly performance review
Petroleum Minister Dharmendra Pradhan has proposed that the newly selected head of India's oil & Gas corp, Shashi Shanker be initially appointed for one year to review his performance on quarterly basis instead of yearly basis as per previous norms.

After clearance of Shanker's appointment form the Central vigilance commission, his name was approved as the next chairman and managing director of the ONGC by the petroleum minister.

Due to exploration challenges before the ONGC to raise crude oil and natural gas output, the appointment committee of the cabinet approved for Shashi Shanker's appointment for one year in which the ministry will conduct quarterly review of his performance.

As per the rules of Public Enterprise Selection board, a broad level functionary would be considered for appointment for five years or until the age of superannuation, whichever falls first with a provision of administrative assessment after one year, based on which the ministry would recommend the PESB his/her conformation for the balance tenure.

9 out of 30 candidates were shortlisted by the PESB for the ONGC top job among which none were from the private sector.

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