Now, Finance Ministry to house Department of Public Enterprises

New Delhi: As the Central government plans to go full throttle on disinvesting several public sector assets and enterprises in non-core sectors along with strengthening PSUs in the strategic sectors, it has decided to bring the Department of Public Enterprises under the Finance Ministry.

The department, which was under the Ministry of Heavy Industries and Public Enterprises so far, would look into the residual work relating to erstwhile Bureau of Public Enterprises including the Industrial Management Pool.

It would also look into coordination of matters of general policy affecting all public sector enterprises (PSEs), and evaluation and monitoring the performance of PSEs, including the Memorandum of Understanding (MoU) mechanism.

Matters relating to permanent machinery of arbitration for the PSEs, and counselling, training and rehabilitation of employees in Central public sector undertakings (PSUs) under the Voluntary Retirement Scheme, would also be looked into by the department.

Review of capital projects and expenditure in Central PSEs also would be taken care of by the department, a gazette notification said.

The department also deals in measures aimed at improving performance of Central PSEs and other capacity building initiatives of PSEs.

It will also render advice relating to revival, restructuring or closure of PSEs including the mechanisms required, among other responsibilities.

(IANS)

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