The Cabinet has, in cases where it has already given approval for the disinvestment of shares in a PSU, empowered the Alternative Mechanism to take decisions regarding the sale of shares, including the number of shares to be sold and the price.
In a bid to speed up the disinvestment process, the government created the Alternative Mechanism (AM) in 2017 comprising Finance Minister Arun Jaitley, Road Transport Minister Nitin Gadkari, and the representative minister from the relevant ministry. The Cabinet decision on Thursday has further empowered this AM with regard to disinvestment matters.
Now, with regard to cases where the Cabinet Committee on Economic Affairs has already given its in-principle approval for strategic disinvestment, the AM will be empowered to also decide on quantum of shares to be transacted.
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