Divestment: CPSEs to execute sale of Cabinet-cleared units

by Asia Today

June 5, 2022

in India

Reading Time: 2 mins read

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The Finance Ministry has stated that the strategic sale of items of central public sector enterprises (CPSEs) for which clearance of the Cupboard is already in place must be executed by the respective state-owned firms, in accordance with the rules to be laid down by DIPAM shortly.

Nevertheless, these transactions for which expression of curiosity (EoI) have been issued will proceed to be dealt with by the Division of Funding and Public Asset Administration (DIPAM), it added.

In an workplace memorandum dated June 1, DIPAM stated that the strategic sale proposal of any CPSE unit which has been accepted by the Cupboard Committee on Financial Affairs (CCEA) or Different Mechanism (AM) will probably be taken ahead by the state-owned firm in accordance with the brand new pointers. The memo follows the choice of the Cupboard on Could 18, which empowered the boards of PSEs to resolve on the closure, strategic or minority stake sale in items/subsidiaries, thereby giving extra autonomy to state-owned firms.