Alternative mechanism to now assess disinvestment in CPSEs -Governance Now

Alternative mechanism to now assess disinvestment in CPSEs

The cabinet delegated powers to a few senior ministers to take a final call on modalities of stake sale in the PSUs

GN Bureau | January 19, 2017

#disinvestment #CPSE #PSU #alternative mechanism

The cabinet committee on economic affairs led by prime minister Narendra Modi has approved alternative mechanism, to take a call on the quantum of disinvestment in a particular central public sector undertaking (CPSE) on a case by case basis subject to government retaining 51 percent equity and management control, a PIB release stated. This is in addition to the present functions performed by alternative mechanism as has been approved by CCEA in August, 2014.

This would reduce speculation and overhang and expedite the disinvestment process.

Reports say the cabinet delegated powers to a few senior ministers to take a final call on modalities of stake sale in the PSUs.

Once the government okays disinvestment in a particular PSU, the panel of senior ministers like finance minister Arun Jaitely and road transport minister Nitin Gadkari among many others will decide an array of issues like date of stake sale and tranches.

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