Disinvestment panel gets extension for one year

NEW DELHI: Despite a slowdown on the disinvestment front with no major privatisation case coming through during the past one year, Government has extended the tenure of the Disinvestment Commission by another year.
We have received a communication from government extending the life of the Commission till October 2004, Member Secretary Amitabha Bhattacharya said on Friday.
The move would not only enable the panel to wrap up work on existing cases under study but also allow it to take up work on review cases, he added.
Currently, the Commission is working on some 18-20 PSUs including telecom giants Bharat Sanchar Nigam (BSNL) and Mahanagar Telephone Nigam (MTNL).
The Commission is also reviewing its recommendations on National Mineral Development Corporation (NMDC) and Concor.
It has also taken up work on promotional organisations like India Trade Promotion Organisation (ITPO).
The panel performs an advisory role for government giving recommendations on disinvestment of state enterprises, which are then processed by Disinvestment Ministry for further action.
Asked about fresh cases the Commission was planning to take up, Bhattacharya remained non-committal merely saying it was for the Commission to decide.
However, state enterprises like National Thermal Power Corporation (NPTC) and Steel Authority on which recommendations have already been given, may figure on the commission''s list at a later stage.
Government had in June 2001 reconstituted the Commission with R H Patil as Chairman and included four other members T L Shankar, N V Iyer, K R S Murthy and V V Desai on a part time basis for a two-year period. Bhattacharya, however, enjoys full-time status on the panel.
The tenure of the first Disinvestment Commission headed by G V Ramakrishna constituted by Deve Gowda government in 1996 came to an end in November 1999.
Nearly 20 reports have so far been submitted to government covering some major enterprises like Bharat Heavy Enterprises, National Aluminium (Nalco) and Bharat Aluminium which was privatised two years back.