246-year-old Ordnance Factory Board scrapped; 7 new companies to take over

Corporatization of Ordnance Factories​

Posted On: 26 JUL 2021 3:25PM by PIB Delhi
To enhance functional autonomy, efficiency and unleash new growth potential and innovation in Ordnance Factories, the Government has decided to convert the production units of Ordnance Factory Board into 07 Defence Public Sector Undertakings. The details are as under:-


Table : Press Information Bureau


The OFB employees’ Federations and Associations have opposed the Government decision to corporatize OFB. The employees’ Federations have intimated vide letter dated 29.06.2021 that they would serve strike notice on 08.07.2021 and would commence indefinite strike from 26.07.2021. However, no such notice has been received till date.



The Government has held various discussions with the OFB employees’ Federations and Associations regarding the corporatisation of OFB under the Chairmanship of Secretary (Defence Production). Their concerns and suggestions were noted. Their main concern about safeguarding the interests of the employees of OFB has been adequately addressed. It is pertinent to mention that Chief Labour Commissioner (Central) also held discussions with Government & OFB Federations as part of the conciliation process under the Industrial Disputes Act 1947.



Regular interactions are being held with the stakeholders by the Government. The Defence Minister also held meeting with the recognised Defence Civilian employees’ Federations on 16.07.2021 and appealed them to continue discussions with the Department.



This information was given by Raksha Rajya Mantri Shri Ajay Bhatt in a written reply to Shri M Shanmugam and Shri Kanakamedala Ravindra Kumar in Rajya Sabha today.



ABB/Nampi/KA/DK/Savvy
 
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Ashwin said:
wap.business-standard.com

Govt dissolves OFB, transfers employees and assets to 7 PSUs

The OFB is currently a defence ministry entity and supplies critical arms and ammunition to the three armed forces and the paramilitary
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This is a huge reform delivered in a fast-track route !.

Now Give them the best corporate structure, direct list, monetize land, and make it a level playing field for private players. The market will take care of how and how many will survive.
 
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