Cabinet To Take Up Sfc Act Changes

Union Cabinet is slated to discuss amendments to the State Financial Corporation Act today in an attempt to enlarge shareholders base of state financial corporations.

The amendments to the Act will increase the scope for state financial corporations to be flexible in their operations and functional autonomy and create ability to respond to changes.

Sources said the Cabinet would also discuss the amendments of Acts and rules to bring the legislation for freedom of information.

The group of ministers have cleared the draft Freedom of Information Bill 1999. the group was headed by home minister L K Advani. The Bill is expected to be placed in the budget session of Parliament after approval.

 

The Cabinet Committee of Economic Affairs is also scheduled to meet today to discuss the buy-back of 25 per cent of the government equity by both Power Finance Corporation and Rural Electrification Corporation. The two corporation will pay around Rs 800 crore to the government for buying back the shares.

The CCEA will also discuss the revised cost estimate of Dhauliganga power project and as well as the Siliguri transmission project.

The Freedom of Information Bill is expected to dilute the effect of the Official Secrets Act and define the right of information, including the right to inspect government documents.

Law minister Ram Jethmalani had said the Bill not only assure the right to have oral information about an official record but also to get a certified copy of them. The Bill also has an 8-point charter of exemption.

It includes a statutory obligation to ensure that every public authority will have to appoint public information officers to attend the request for information by citizens.