Power Finance Corporation (PFC), a financial service provider for the power sector, on Thursday announced the appointment of MK Goel as chairman and managing director for a period of five years. Goel assumed the charge of CMD, PFC from Thursday. He has been holding the additional post of CMD since September 13, 2013, in addition to his regular charge of director commercial.
PFC has been without a permanent CMD for over a year after the prime minister-led appointments committee of cabinet rejected extension of tenure of its then chairman and managing director Satnam Singh as recommended by the power ministry.
Goel, an electrical engineer by profession, has an experience of about 35 years in the power sector and has been with PFC for more than 26 years.
He has been associated with flagship schemes like restructured accelerated power development and reforms programme, ultra-mega power plant and the recently launched integrated power development scheme.