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OFB corporatisation gets Cabinet approval

  • IASbaba
  • June 18, 2021
  • 0
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OFB corporatisation gets Cabinet approval

Part of: GS Prelims and GS -III – Defence and security 

In news

  • The Union Cabinet approved a plan to corporatise the Ordnance Factory Board (OFB).
  • OFB has 41 factories which will be divided into seven fully government owned corporate entities on the lines of Defence Public Sector Undertakings (DPSU).
  • Once implemented, the OFB will cease to exist.
  • There will be no change in service conditions  of the employees

Benefits of the approval

  • Make the country self-sufficient in defence manufacturing
  • Transform the ordnance factories into productive and profitable assets,
  • Deepened specialisation in the product range
  • Enhanced competitiveness
  • Improved quality 
  • Help in overcoming various existing shortcomings like eliminating inefficient supply chains 

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