Wednesday, August 10, 2022

Pradosh Kumar Basu appointed as Director (Finance) of NALCO

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New Delhi: Pradosh Kumar Basu is the new Director (Finance) of National Aluminium Company (NALCO), a Navratna PSU under the Ministry of Mines. The Appointments Committee of the Cabinet (ACC) has approved the appointment of Basu on March 8. According to an order from the Department of Personnel & Training (DoPT), Basu has been appointed as Director (Finance) of NALCO for a period of five years with effect from the date of assumption of charge of the post till the date of his superannuation, or until further orders, whichever is earlier. He is currently serving as Chief Financial Officer in ONGC Petro Additions Limited.

Earlier, PSU Watch had reported that Basu was recommended for the appointment as Director (Finance) of NALCO by a PESB panel on August 26. He was selected for the post from a list of eight candidates, who were interviewed by the selection panel. Barring Basu, the list had three candidates from NALCO and one each from Hindustan Copper Limited (HCL), MOIL Limited, KIOCL Limited and Bharat Sanchar Nigam Limited (BSNL).

Basu's education & background

Basu is a Certified Management Accountant (CMA) from the Institute of Cost & Works Accountants of India (ICWAI) of 1990-batch. In addition to this, he is also a Certified Public Accountant (CPA) from the American Institute of Certified Public Accountants, USA. He joined ONGC Petro additions Limited (OPaL) as Vice President (Finance) on January 1, 2018.

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Basu has a rich experience of around 29 years in the field of business finance, controlling, strategy, fund management, risk management, commercial and business planning, performance reporting, audit management in oil, gas and petrochemical organisations. Prior to joining OPaL, he was working with Qatar Petroleum as Head of Business Finance & International Operations.

New role and responsibility

As Director (Finance) of NALCO, Basu will be a member of the board of directors of NALCO and will report to the Chairman and Managing Director (CMD). He will be overall in-charge of finance and accounts functions of the organisation and responsible for evolving and formulating policies relating to finance and accounts as well as implementation thereof.

National Aluminium Company Limited (NALCO)

National Aluminium Company Limited (NALCO), incorporated in 1981, is a Navratna PSU, having integrated and diversified operations in mining, metal and power under the Ministry of Mines. It is one of the largest integrated Bauxite-Alumina-Aluminium-Power complexes in the country, encompassing bauxite mining, alumina refining, aluminium smelting and casting, power generation, rail and port operations.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)

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