A Parliamentary panel has asked the Department of Investment and Public Asset Management (DIPAM) to publish an annual report on how it has managed public assets, highlighting "whether it is creating value or whether it has eroded value" of public sector enterprises.
The Standing Committee on Finance, chaired by BJP member Jayant Sinha, in its report stated that disinvestment should become more credible, purposeful and transparent.
DIPAM is mandated to manage government equity in public sector companies. The government had budgeted to collect Rs 1.75 lakh crore through PSU disinvestment in the current fiscal. However, the revised estimates has scaled down the estimation to Rs 78,000 crore.
For next fiscal, beginning April 1, the disinvestment target has been set at Rs 65,000 crore. The committee said meeting the disinvestment target is pivotal to the Budget and wavering from the estimates may lead to a quantum change in the fiscal dynamics.
"Along with the disinvestment targets, the Committee believes that it is necessary for DIPAM to publish an annual report on how it has managed public assets — in particular, DIPAM should highlight whether it is creating value or whether it has eroded value on an annual basis for the general public," the committee said.
