Cabinet approves procedure and mechanism for Strategic Disinvestment of the CPSEs – delegation thereof

The Cabinet Committee on Economic Affairs chaired by the Prime Minister has approved delegation of the following to Alternative Mechanism in all the cases of Strategic Disinvestment of CPSEs where CCEA has given 'in principle’ approval for strategic disinvestment:

(i)   The quantum of shares to be transacted, mode of sale and final pricing of the transaction or lay down the principles/ guidelines for such pricing; and the selection of strategic partner/ buyer; terms and conditions of sale; and

(ii)  To decide on the proposals of CGD with regard the timing, price, the terms & conditions of sale, and any other related issue to the transaction.

This will facilitate quick decision-making and obviate the need for multiple instances of approval by CCEA for the same CPSE.