<p>The Centre on Wednesday decided to set up a three-member ministerial committee – an alternative mechanism – to speed up strategic disinvestment transactions in central public sector enterprises.<br /> <br />The Cabinet Committee on Economic Affairs also gave its nod to empower the Core Group of Secretaries to take policy decisions on procedural matters and also consider deviations as necessary for effective implementation of its decisions.<br /> <br />The ministerial panel will be chaired by Finance Minister Arun Jaitley and have Road Transport Minister Nitin Gadkari and the minister of the administrative department of the concerned CPSE as members.<br /> <br />“The new mechanism will decide on matters relating to terms and conditions of the sale from the stage of inviting of express of interests till inviting of financial bids,” an official statement said.<br /> <br />The alternative mechanism will also empower the Core Group of Secretaries to take policy decisions with regard to procedural issues and to consider deviations as necessary from time to time for effective implementation of decisions of CCEA.<br /> <br />Bharat Earth Movers Limited, Scooters India and Pawan Hans Ltd, three units of Steel Authority of India Limited (SAIL) have been shortlisted for strategic disinvestment this year.<br /> <br />The cabinet also approved the closure of the mostly defunct Andaman and Nicobar Islands Forest and Plantation Development Corporation Limited (ANIFPDCL) at Port Blair.<br /> <br />Forestry activities contributed 75% revenues of the state-owned company but it has been running into losses since 2002 when Supreme Court banned such operations.<br /></p>
<p>The Centre on Wednesday decided to set up a three-member ministerial committee – an alternative mechanism – to speed up strategic disinvestment transactions in central public sector enterprises.<br /> <br />The Cabinet Committee on Economic Affairs also gave its nod to empower the Core Group of Secretaries to take policy decisions on procedural matters and also consider deviations as necessary for effective implementation of its decisions.<br /> <br />The ministerial panel will be chaired by Finance Minister Arun Jaitley and have Road Transport Minister Nitin Gadkari and the minister of the administrative department of the concerned CPSE as members.<br /> <br />“The new mechanism will decide on matters relating to terms and conditions of the sale from the stage of inviting of express of interests till inviting of financial bids,” an official statement said.<br /> <br />The alternative mechanism will also empower the Core Group of Secretaries to take policy decisions with regard to procedural issues and to consider deviations as necessary from time to time for effective implementation of decisions of CCEA.<br /> <br />Bharat Earth Movers Limited, Scooters India and Pawan Hans Ltd, three units of Steel Authority of India Limited (SAIL) have been shortlisted for strategic disinvestment this year.<br /> <br />The cabinet also approved the closure of the mostly defunct Andaman and Nicobar Islands Forest and Plantation Development Corporation Limited (ANIFPDCL) at Port Blair.<br /> <br />Forestry activities contributed 75% revenues of the state-owned company but it has been running into losses since 2002 when Supreme Court banned such operations.<br /></p>
