A major restructuring of the industry and commerce-related ministries in the union government is on the anvil. Corporate affairs minister Salman Khurshid told reporters on Tuesday that the ministry of heavy industries and the ministry of commerce and industry have formally proposed to demerge some departments in favour of corporate affairs.
"The ministry of heavy industry has submitted a proposal to transfer the department of public sector enterprises to our ministry. The ministry of commerce and industry too wants to demerge some functions to corporate affairs. We have given our view. Now it is with the cabinet secretary," he said. "We are ready but the whole process will take some time."
There are 32 public sector companies under the public sector enterprise (PSE) department.