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The Privatization Commission which came into being in March, 1993 is entrusted with the overall responsibility of privatizing State-Owned Enterprises identified for privatization, whether small, large, profitable or non-profitable. The Commission is now headed by a chairman with the rank and status of a State Minister to the Government. The Commission consists of two full-time members and twelve part time members including six Members of Parliament. The Commission has been placed under the administrative jurisdiction of the Cabinet Division which is headed by the Hon'ble Prime Minister. The Commission reports directly to the Cabinet Committee on Economic Affairs which is chaired by the Hon'ble Minister of Finance. Ministries having SOEs under their control have either set up or in the process of setting up Privatization Cells for assisting the Privatization Commission in identifying, preparing, processing, implementing and monitoring SOEs for privatization. |
