Photo: Sunil Saxena
Government has approved the proposal of Department of Investment and Public Asset Management for laying down the procedure and mechanism for strategic disinvestment of Central Public Sector Enterprises (CPSEs).
The Cabinet Committee on Economic Affairs(CCEA), has given green signal for the procedure and mechanism for strategic disinvestment.
Earlier, strategic disinvestment would start with the recommendation of the Disinvestment Commission. In a major departure, in the approved process the NITI Aayog would perform the role of erstwhile Disinvestment Commission.
Government has also approved the constitution of Core Group of Secretaries on Disinvestment (CGD) headed by the Cabinet Secretary to Supervise and monitor the process of implementation of CCEA decisions on strategic disinvestment.
The Administrative Department or Ministry would be responsible for valuation of the CPSE. They would also appoint asset valuers for strategic disinvestment.
An Evaluation Committee would deliberate at valuation and fix the Reserve Price. This would be an inter-ministerial committee headed by FA level officer.