The Cabinet has approved a new process of strategic disinvestment with a view to expediting privatization of select PSUs.
Official sources said, the Cabinet approved the new policy under which the Department of Investment and Public Asset Management, DIPAM under the Ministry of Finance has been made the nodal department for the strategic stake sale.
DIPAM and NITI Aayog will now jointly identify PSUs for strategic disinvestment. The decision has been taken with a view to streamlining and speeding up the process.
Finance Minister Nirmala Sitharaman during the presentation of the Budget had announced about increasing the divestment target from 90 thousand crore rupees to 1.05 lakh crore rupees for the current fiscal year, focusing on consolidation of public sector undertakings and strategic disinvestment.