Indianmandarins has learnt that Thomas Mathew (IAS:1983:KL) may shortly be appointed as the first CEO of National Investment and Infrastructure Fund (NIIF). While serving as Joint Secretary, President’s Secretariat, Mathew was elevated (in-situ) as Adiitional Secretary to President of India on July 15, 2013.
The newly constituted NIIF has been without a CEO since its inception. To pick up the right person for the job, a search-cum-selection committee headed by Shaktikanta Das (Secretary, DEA) was constituted in October 2015. The other members of the SCSC are Anjuly Chib Duggal (Secretary, DFS), Ms Arundhati Bhattacharya (Chairman, SBI), Rathin Roy and Rajiv Kumar.
In November 2015 a Governing Council for NIIF was constituted under the Chairmanship of Finance Minister. The salary of the CEO would be market linked and would depend on management output.
NIIF was formed in July last year with a corpus of Rs. 20,000 crore to boost infrastructure projects, including those which are stalled. The government would contribute 49 percent of the subscribed capital of NIIF. Fin Min Jaitley had proposed creation of this infrastructure fund in his budget 2015-16.