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Union Cabinet gives approval for sale of over dozen PSUs

Union Cabinet gives approval for sale of over dozen PSUs

Union Cabinet on 27 October 2016 gave its in-principle approval to NITI Aayog’s proposal for strategic sale of over a dozen public sector undertakings (PSUs).

Finance Minister Arun Jaitley said the names of PSUs that are up for strategic stake sale would be made public once they are going to be put up for the auction. This list does not include PSUs for closure. 

The recommendations of the NITI Aayog on disinvestment and strategic sale came up for consideration and the Cabinet in principle approved the recommendations with regard to some of the units.

Highlights of the Decision 

• Each case would be considered separately after it has been examined by the Department of Disinvestment and the Ministries concerned.

• The strategic sale will involve a management control transfer as the shareholding of the government would come down to below 50 per cent.

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