Government gives in-principle approval for strategic sale in some PSUs

The Union Cabinet on Thursday gave in-principle approval to NITI Aayog’s proposal for strategic sale of state-owned firms and entrusted DIPAM with the task of finalising the PSUs in which management control can be transferred to private players.

The Cabinet meeting, chaired by Prime Minister Narendra Modi, decided that the Department of Investment and Public Asset Management (DIPAM) would work out the broad methodology and valuation, thereafter fixing the base price for each of the PSU being put up for strategic sale.

 Briefing reporters after the meeting, Finance Minister Arun Jaitley said the names of PSUs that are up for strategic stake sale would be made public on a case-to-case basis once the Cabinet decide to put them 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,” he said.

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