The Government has appointed M.K. Goel, who is also the Director (Commercial), as the Chairman and Managing Director of Power Finance Corporation Ltd (PFC).
This is after the Prime Minister Manmohan Singh headed Appointments Committee of the Cabinet did not give its go-ahead for extension of the tenure of Satnam Singh, whose term got over on July 31.
According to industry watchers, Satnam Singh’s extension request met a roadblock after the Central Vigilance Commission had initiated investigations against Singh after receiving several complaints. He started his tenure as Chairman and Managing Director of PFC on August 1, 2008.
Goel holds a Bachelor's Degree in Technology specialising in Electrical Engineering from Kanpur University.
He joined the PFC Board on July 27, 2007 and is spearheading the implementation of Restructured Accelerated Power Development and Reform Programme, a flagship reform programme of the Government.
He is also heading entity appraisal, human resource, administration, information technology, legal and documentation and CSR activities.
Goel has over 35 years of experience in power sector.