PC Vaish, who was earlier serving as director finance has taken charge as chairman-cum-managing director (CMD) of National Textile Corporation (NTC).
PC Vaish, who was earlier serving as director finance has taken charge as chairman-cum-managing director (CMD) of National Textile Corporation (NTC). #
Vaish became director finance of NTC in 2012. Prior to that, he served as a non-executive director at Swadeshi Polytex and was a member of the Share Transfer Committee and audit panel.
PC Vaish, who was earlier serving as director finance has taken charge as chairman-cum-managing director (CMD) of National Textile Corporation (NTC). #
Vaish succeeds RK Sinha, who retired as CMD last week.
PC Vaish, who was earlier serving as director finance has taken charge as chairman-cum-managing director (CMD) of National Textile Corporation (NTC). #
The Public Enterprises Selection Board had recommended Vaish’s name for the post of CMD way back in 2013.
PC Vaish, who was earlier serving as director finance has taken charge as chairman-cum-managing director (CMD) of National Textile Corporation (NTC). #
In December this year, the Indian Parliament passed the Textile Undertakings (Nationalisation) Laws (Amendment and Validation) Bill, 2014. The Bill frees the NTC, which has property of around Rs 25 lakh crore, from rent control laws. The Bill says there is a need “to protect public investment in the acquired textile undertakings to explicitly clarify the status of such vesting of the lease-hold rights in the central government.”
PC Vaish, who was earlier serving as director finance has taken charge as chairman-cum-managing director (CMD) of National Textile Corporation (NTC). #
Textiles minister Santosh Kumar Gangwar said, “NTC mills are turning around and government is committed to turning them around.” He added that “The bill will help to run NTC smoothly so that in future there is no complaint against the running of NTC.”
PC Vaish, who was earlier serving as director finance has taken charge as chairman-cum-managing director (CMD) of National Textile Corporation (NTC). #
NTC was set up as a public sector enterprise in 1968 for managing the sick textile undertakings in the private sector that were taken over by the Government. Initially, the NTC managed 16 textile mills. This number has now grown to 119. However, only 23 of these 119 mills are currently operational.
PC Vaish, who was earlier serving as director finance has taken charge as chairman-cum-managing director (CMD) of National Textile Corporation (NTC). #
Vaish faces a challenge of turning NTC into a vibrant and self-sustainable organisation. (RKS)
PC Vaish, who was earlier serving as director finance has taken charge as chairman-cum-managing director (CMD) of National Textile Corporation (NTC). #
Fibre2fashion News Desk - India