Union Cabinet gives in-principle nod for strategic sale of PSUs

The Union Cabinet today gave in- principle approval to Niti Aayog’s proposal for strategic sale in over a dozen public sector undertakings (PSUs) including those that are making profits.

Talking to reporters after the Cabinet meeting, chaired by Prime Minister Narendra Modi, Finance Minister Arun Jaitley said the names of PSUs that are up for strategic stake sale would be made public once they are going to be put up for the auction.

“The recommendations of the NITI Aayog with regard to both disinvestment and strategic sale came up for consideration. In principle the Cabinet has approved the recommendations with regard to some of the units,” the minister said.

Each case would be considered separately after it has been examined by the Department of Disinvestment and the ministries concerned, he said. The strategic sale will involve a management control transfer as the shareholding of the government would come down to below 50 per cent.

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