CPSEs need ministerial panel's nod to to sell units to govt entities

Providing impetus to privatisation, cabinet recently empowered the boards of the CPSEs to privatise, disinvest or close their subsidiaries and sell stakes in JVs

Providing impetus to Centre's privatisation bid, the cabinet recently empowered the boards of the Central Public Sector Enterprises (CPSEs) to privatise, disinvest or close their subsidiaries and sell stakes in joint ventures. 

The CPSEs will now have to take special permission from a ministerial panel to sell their stakes to state governments or other government-owned companies according to the latest guiding principles, the Financial Times reported. 

This move will provide a boost to government’s new public sector enterprises policy to unlock capital, which is either stuck or sub-optimally employed in state assets, and put it to better use.

Previously, a