Which of these authorities approves the sale of government stake in the Public Sector Units PSUs ........

Economic Affairs Others

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Which of these authorities approves the sale of government stake in the Public Sector Units (PSUs)?

Cabinet Committee on Economic Affairs (CCEA)

Governor, Reserve Bank of India

Finance Secretary, Ministry of Finance

Department of Industrial Policy and Promotion (DIPP)

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Explanation:

Recently, the CCEA has approved sale of government’s more than 51% stake along with management control in HPCL (Hindustan Petroleum) to ONGC. HPCL will continue as PSU after the acquisition. A majority stake sale, if offered to a private enterprise, is termed as a strategic sale that usually involves shedding management control by the government. On the other hand, in a minority stake, only part of the stake is offered, and the government retains both the ownership and the management control.