Cabinet Committee okays proposals for PSU buyback scheme

In a bid to give boost to its attempts to meet the divestment targets, the government has decided to allow public sector companies to buy back their shares just like any other private company. The Cabinet Committee on Economic Affairs (CCEA) in its meeting, approved a proposal to enable the Department of Disinvestment to “respond to normal practices in the corporate world if proposed by a Central Public Sector Undertakings (CPSE).”