Wednesday, September 28, 2022

Tuhin Kanta Pandey is new Secretary of DIPAM

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New Delhi: Department of Investment and Public Asset Management (DIPAM) has got its new Secretary. 1987-batch IAS officer of Odisha cadre Tuhin Kanta Pandey has been appointed as the new Secretary, DIPAM. He will replace Anil Kumar Khachi (HP, 1986) who goes back on his repatriation to his parent cadre on personal grounds with immediate effect, a statement issued by Appointments Committee of the Cabinet (ACC), Ministry of Personnel, Public Grievances and Pensions Department of Personnel and Training, said. The ACC had last week assigned Atanu Chakraborty, Secretary, Department of Economic Affairs with the additional responsibility of Secretary, DIPAM, after Khachi went on leave from October 19 to November 6. Pandey wears a crown of thorns as Secretary, DIPAM as the central government has already escalated the disinvestment target for the current financial year. DIPAM has to generate an ambitious target of Rs 1.05 lakh crore from disinvestment.

Recently, the Union Cabinet headed by Prime Minister Narendra Modi at its meeting approved the new policy under which the DIPAM has been made the nodal department for the strategic stake sale. This was done with a view to streamlining and speeding up the process, reducing the role of administrative ministries which often used to place hurdles in the path of major stake sales.

ALSO READ: Idle PSU assets do not contribute to Atmanirbhar Bharat: DIPAM Secretary

PSU Watch had published last week that the government has begun the strategic disinvestment for the financial year 2019-20 and has started the process with five PSUs. Earlier this month, a group of Secretaries approved the sale of the government’s entire stake in four public sector undertakings (PSUs) — BPCL (Petroleum Ministry), SCI (Ministry of Shipping), THDC and NEEPCO (Ministry of Power). Later, the Union Cabinet cleared a government proposal to sell 30 percent stake in CONCOR, which falls under the purview of the Ministry of Railways, and the sale of the Centre’s stake in THDC India and NEEPCO to NTPC. The strategic sale of these five PSUs is expected to fetch the government over Rs 66,000 crores. It has so far raised Rs 12,357.49 crores through disinvestment, according to data available on DIPAM website.

The total target for the current financial year is Rs 1.05 lakh crores. 

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)

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