The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved the proposal of Department of Investment and public Asset Management (DIPAM) for the strategic disinvestment of the following:

(i) For setting up an Alternative Mechanism (AM) consisting of the Finance Minister, Minister for Road Transport & Highways and Minister of Administrative Department, to decide on the matters relating to terms and conditions of the sale from the stage of inviting of Express of Interests (Eols) till inviting of financial bid; and

(ii) For empowering the Core Group of Secretaries (CGD) 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.

The approval will help in speedy completion of strategic disinvestment transactions.

Strategic disinvestment mechanism sets ministerial Alternative Mechanism for sale terms and empowers secretaries for procedural decisions. The executive establishes an Alternative Mechanism of specified ministers to decide terms and conditions of sale from inviting Expressions of Interest through financial bids, and empowers the Core Group of Secretaries to take policy decisions on procedural matters and permit necessary deviations to enable effective implementation of disinvestment decisions.