PSU monitoring body likely

NEW DELHI, JULY 3: The government will not disband the disinvestment commission but would set up a monitoring agency for quick implementation of the panel’s recommendations, Union Industry Minister Sikander Bakht has said. “The commission is doing a good job although its chairman is disappointed over the slow pace of implementation of its recommendations,” Bakht told PTI in an interview.

After a meeting with commission chairman G V Ramakrishna on Wednesday to discuss the disinvestment process, Bakht said the government would take the views of the panel before setting up the monitoring agency.

The minister said the proposed agency, which could be either part of the industry ministry or a joint body with the finance ministry, would speed up the process of privatisation of public sector undertakings (PSUs).

"The implementation part is slow and needs to be speeded up. A monitoring agency needs to be created to give it a good speed. It (the disinvestment process) should not be allowed to stagnate," Bakhtsaid. The government is also considering the demand of the disinvestment commission seeking powers for implementing its recommendations.