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R H Patil to head Divestment Commission

The government on Tuesday announced reconstitution of the Divestment Commission with R H Patil as the new chairman.

The Commission, which has been appointed initially for two years, will have a largely advisory role, with the final decision on its recommendations vested with the government, an official statement said in New Delhi.

Among the commission's terms of reference, is taking into account the interest of workers, employees and other stake-holders in public sector units and also advise to the government on any other matter, relating to divestment, which may be specifically referred to it.

The statement said that other members of the commission will be appointed shortly.

"It shall be an advisory body and its role and function would be to advise the government on divestment in public sector units," it said adding the commission would also carry out any other activity related to divestment as assigned by the government.

Patil is currently the chairman of Clearing Corporation of India and is on the board of National Stock Exchange, SBI Caps and RBI's standing committee on Money Markets.

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