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CCS likely to set up EGoM to review OFB Restructuring

The Cabinet Committee on Security (CCS) is likely to set up a six member Empowered Group of Ministers (EGoM) headed by Defence Minister and also will likely include the home, finance, law and justice, labour and employment Ministers, and, the Minister of State for personnel, public grievances and pensions. The EGoM, once constituted, will develop a mechanism for stakeholder consultation and decide whether the OFB should be broken into single or multiple defence PSUs. Further, the Group will oversee and guide the entire process including transition support and redeployment plan of employees while safeguarding their wages and retirement benefits.

The transformation of OFB is aimed at increase turnover from Rs 14000 Crores at present to Rs 30000 Crores by 2024-25; to export 25% of their turnover in the same period and to enhance self-reliance on technology from about 20% of the value of OFB production to 75 percent.

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