Updated By: LatestGKGS Desk
Ministry of Defense gives clarity on privatization of Ordnance Factory Board (OFB)
Ordnance Factory Board will not be privatized clarifies the Ministry of Defense
The Ministry of Defense (MoD) clarified that there is no proposal to privatize Ordnance Factory Board (OFB).
Ordnance Factory Board is a defense contractor owned by the Indian government. OFB comprises forty-one Ordnance Factories.
Ordnance Factory Board was established in 1712. The headquarter of OFB is in Kolkata.
The Ministry of Defense clarified that the proposal under consideration of Government is to make OFB into Defense Public Sector Undertakings (DPSUs), which is hundred percent government-owned.
Corporatization of OFB will bring OFB at level with other DPSUs of MoD and will provide operational freedom and flexibility to OFB which it presently lacks.
