New proposal in works to give Dipam more power to carry out privatisation

Cabinet to discuss plan on strategic sale policy soon

The Union Cabinet, led by Prime Minister Narendra Modi, will soon take up a proposal to give more power to the department of investment and public asset management (Dipam) to carry out privatisation and “strategic sale” for state-owned companies. 

According to this plan, once a PSU is cleared for strategic sale, Dipam will become the administrative ministry, irrespective of whichever department the relevant PSU comes under. Additionally, the companies being considered under this plan are not just some smaller PSUs staving off a shutdown, but bigger names such as Container Corp, Shipping Corp, and Bharat Earth Movers, Business Standard has learnt. 

“Dipam