The Department of Investment and Public Asset Management (DIPAM) has asked its officials to refrain from trading in shares of public sector companies as they may be privy to market-sensitive information with regard to state-owned companies, an official said.
In an internal order, the DIPAM said that any officer joining the department would be required to declare his/her holding in public sector enterprises and such shares could only be liquidated by the official concerned after approval from authorities.
DIPAM, under the Ministry of Finance, manages government equity in public sector companies and is also responsible for undertaking minority stake sale, strategic disinvestment and privatisation.
“DIPAM has issued an internal order saying that officers in the department will not buy or share shares of state-owned companies. The idea behind this is officials in DIPAM may be privy to some information which can be affecting the share prices of companies. It should not be so that they ..
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