Employees of Fertilizers and Chemicals Travancore (FACT) have welcomed the appointment of Kishor Rungta as full-time chairman and managing director of the company. It is learnt that Mr. Rungta will take charge at FACT as soon as he is relieved of his duties at the Electronics Corporation of India as finance director.
The appointment of a full-time head for the financially troubled FACT comes after more than two years. The last full-time CMD was Jaiveer Srivastava, who was removed from the post by the Fertiliser Ministry in November 2016. Since then the post has been filled by officials holding additional charges. A.B. Khare, CMD of Madras Fertilizers, was given additional charge of FACT in November 2016. Then S.K. Lohani, joint secretary in the Fertilizer Ministry, took over and later Manoj Mishra, CMD of National Fertilizers, was given additional charge of FACT.
A spokesman for Save FACT Action Committee said the move to appoint a full-time CMD was welcome. However, top positions at the PSU still remained vacant, he added.