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This is an archive article published on October 13, 2004
GoM may take up PSE problem areas
The Cabinet on Wednesday will consider the proposal to set up an empowered group of ministers EGoM for sale of minority stake in public se...
Written by Ravi Shanker Kapoor
New Delhi | October 13, 2004 12:00 AM IST
2 min read
2 min read
The Cabinet on Wednesday will consider the proposal to set up an empowered group of ministers EGoM for sale of minority stake in public sector enterprises PSEs. The draft disinvestment policy will, however, not be taken up.
The Cabinet will also consider the proposal for the establishment of a Board for Reconstruction of Public Sector Enterprises BRPSE.
The EGoM will monitor the sale of PSE equity in the domestic market and as global depository receipts GDRs. It will also finalise the price of the equity to be offloaded, said officials in the ministry of heavy industries 038; public enterprises.
The EGoM is the UPA government8217;s alternative to the previous regime8217;s Cabinet committee on disinvestment CCD. The EGoM, however, will work on the recommendations of BRPSE.
The board8217;s role will be advisory in nature. To be headed by an appointed chairman, it will comprise secretaries of departments of public enterprises and disinvestment. The board is expected to recommend measures to strengthen PSEs and make them more autonomous and professional.
Another proposal related to the public sector that the Cabinet will deliberate upon is about a Rs 517-crore relief package for the PSEs under the ministry of heavy industries. The money is for the outstanding dues of workers of the ministry8217;s PSEs.
There is one more proposal concerning the public sector 8212; review of the 10 per cent purchase preference policy. But the Cabinet does not take up the draft disinvestment policy prepared by the finance ministry.
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