Sumit Bose takes charge as Disinvestment Secy

Sumit Bose, former 13th Finance Commission Secretary, today took charge as Disinvestment Secretary, at a time when the government is expected to come out with a roadmap for its equity sale in PSUs next month.

Bose replaces Sunil Mitra, who assumed the charge of Revenue Secretary yesterday.

Bose, the 1976 batch IAS officer from Madhya Pradesh cadre, was with the Commission for nearly two years. The Commission recently submitted its report on sharing Centre's tax receipts between states and the Union Government to President Pratibha Patil.

The Finance Ministry had said it expects an action plan to be ready by March this year for disinvestment in more public sector companies.

The Disinvestment Department had said that it has asked 32 ministries in the middle of December last year to identify PSUs in which government can divest its stake.

The UPA government in its second stint so far has made disinvestment in NHPC and Oil India, which mopped up Rs 8,600 crore. Besides, the government would reduce its stake in four other PSUs --NTPC, REC, NMDC and SJVNL -- this fiscal, that would raise about Rs 30,000 crore.

As per the Cabinet's decision, all listed profitable PSUs should have a public holding of at least 10 per cent and all profitable unlisted PSUs should be listed. As per the criteria, 60 state-run companies are eligible for disinvestment