However, those transactions for which expression of interest (EoI) have been issued will continue to be handled by the Department of Investment and Public Asset Management (DIPAM), it added.
The Finance Ministry has said that the strategic sale of units of central public sector enterprises (CPSEs) for which clearance of the Cabinet is already in place will have to be executed by the respective state-owned companies, in accordance with the guidelines to be laid down by DIPAM shortly.
However, those transactions for which expression of interest (EoI) have been issued will continue to be handled by the Department of Investment and Public Asset Management (DIPAM), it added.
In an office memorandum dated June 1, DIPAM said that the strategic sale proposal of any CPSE unit which has been approved by the Cabinet Committee on Economic Affairs (CCEA) or Alternative Mechanism (AM) will be taken forward by the state-owned company in accordance with the new guidelines. The memo follows the decision of the Cabinet on May 18, which empowered the boards of PSEs to decide on the closure, strategic or minority stake sale in units/subsidiaries, thereby giving more autonomy to state-owned companies.
Source:indianexpress.com