The Cabinet Committee on Economic Affairs chaired by the Prime Minister has approved delegation of the following to Alternative Mechanism in all the cases of Strategic Disinvestment of CPSEs where CCEA has given 'in principle’ approval for strategic disinvestment:

(i)   The quantum of shares to be transacted, mode of sale and final pricing of the transaction or lay down the principles/ guidelines for such pricing; and the selection of strategic partner/ buyer; terms and conditions of sale; and

(ii)  To decide on the proposals of CGD with regard the timing, price, the terms & conditions of sale, and any other related issue to the transaction.

This will facilitate quick decision-making and obviate the need for multiple instances of approval by CCEA for the same CPSE.

Delegation of strategic disinvestment authority enables expedited determination of share quantum, pricing, buyer selection and sale terms. Delegation vests an Alternative Mechanism with authority to decide on strategic disinvestment matters where in principle CCEA approval exists, including the quantum of shares, mode of sale, pricing or pricing principles, selection of strategic buyer, terms and conditions of sale, and to resolve CPSE proposals on timing, price and related transaction issues to expedite decisions and avoid repeated CCEA approvals.