Parliamentary panel on finance suggests task force to fill 38 vacant DIPAM positions
The Standing Committee, in its report tabled in Parliament in March, had noted that maintaining only 51 officers against a sanctioned strength of 89 "severely jeopardises" the department's ability to execute complex transactions like the IDBI Bank sale or finalise CPSE MoUs
The Standing Committee on Finance has expressed concern over the severe shortage of personnel at the Department of Investment and Public Asset Management (DIPAM), which currently has a 43% vacancy rate. This alarming figure has hindered the department's ability to effectively manage its substantial asset portfolio of over ₹42.76 lakh crore, as well as complex transactions such as the IDBI Bank sale and finalising CPSE MoUs.
The Committee has recommended setting up a task-force to address the issue and ensure the early filling of the 38 vacant positions. They lament that no significant progress has been made since their March report, which highlighted the dire need for improvement in administrative correspondence and specialized staffing. The Committee emphasized that the current staffing levels are severely jeopardizing the department's capacity to execute crucial disinvestment targets and effectively manage prime real estate assets.
The finance ministry has acknowledged the matter and stated that DIPAM has been addressing the issue with priority, seeking assistance from various other departments. However, the Committee remains deeply concerned about the modest budget allocation of Rs 55.92 crore for DIPAM, coupled with the 43% vacancy rate. They urged the Ministry of Finance to prioritize the issue and establish a dedicated inter-departmental task force, involving DoPT and DoE, to expedite the filling of all vacant positions.
The Committee also emphasized the need for a comprehensive legal strategy, incorporating Golden Share or indirect control models, to safeguard strategic autonomy in CPSEs where state shareholding may drop below 51%. They expressed dissatisfaction with the Ministry's reactive stance, urging the establishment of benchmarked governance standards to proactively codify a legal architecture that permanently protects the government's strategic oversight and national security interests in vital CPSEs whenever public equity dilution occurs.
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