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The finance ministry has barred public sector enterprises from bidding for different Central Public Sector Enterprises (CPSEs) that are on the block for privatisation, as it will defeat the very function of the disinvestment coverage. Stating that switch of administration management from the federal government to some other authorities organisation or state authorities could proceed the “inherent inefficiencies” of state-run companies, the ministry stated such switch would defeat the very function of the brand new PSE coverage.
“As a normal coverage, Public Sector Enterprises (PSEs) (Central /State /Joint)/ State Governments/Cooperative Societies managed by the Governments … usually are not permitted to take part within the strategic disinvestment/privatisation of different PSUs as bidders until in any other case particularly authorized by the central authorities in public curiosity,” the Division of Funding and Public Asset Administration stated.
