The Centre is looking to empower the Department of Investment and Public Asset Management (DIPAM) to take all commercial decisions regarding the sale of a public sector undertaking (PSU), a move that will cut approval layers for privatisation.

       This would include finalising preliminary information memorandum (PIM), request for proposal (RFP), share purchase agreement (SPA), and terms and conditions related to employee retention. The decision to entrust DIPAM with such powers would be considered by the Core Group of Secretaries on Divestment (CGD) headed by the cabinet secretary as ...