Govt to snip red-tape in PSU sale approval, cut time frame by 90%

Proposals may directly go to CCEA for its nod

The NITI Aayog and the Department of Investment and Public Asset Management (Dipam) are exploring a proposal to reduce the time frame for the disinvestment process to a few months, from 12-13 months now. This includes reducing the time involved in several steps, such as appointing advisers and intimating shortlisted bidders.

The proposal, according to two government officials, is to overhaul the privatisation process which may include directly seeking the Cabinet Committee on Economic Affairs’ (CCEA’s) approval after the think tank submits its recommendations on candidates for privatisation.

“We are deliberating to reduce the time frame of the process by 90 per