The Public Enterprises Selection Board (PESB) has invited applications for the post of chairman and managing director (CMD) at state-owned Power Finance Corp. Ltd (PFC). The company’s current head M.K. Goel will retire in September next year, people familiar with the matter said. “PESB invites application for the post of CMD, Power Finance Corporation Ltd,” the government headhunter said.

“Last date of receipt of applications... is 9 December 2015,” it added. Goel who was director (commercial) of PFC was given the additional charge as CMD on 13 September 2013. He was formally appointed as CMD on 22 January this year. The government had appointed Goel as CMD “for a period of five years or till his superannuation, whichever is earlier,” PFC had said in a release earlier. “He has been holding the additional charge of CMD, PFC w.e.f. 13 September 2013 in addition to his regular charge of director (commercial), PFC,” the company had said. Goel has been with PFC for more than 26 years.

PFC, an infrastructure finance company, is engaged in providing financial assistance to state power utilities for meeting the financial and development requirements of the power sector.