Cabinet approves extension of pharmaceuticals purchase policy
Why in news?
- The Union Cabinet has approved the extension/renewal of Pharmaceuticals Purchase Policy (PPP) with the same terms and conditions while adding one additional product namely, Alcoholic Hand Disinfectant (AHD) to the existing list of 103 medicines till the final closure/strategic disinvestment of the pharmaceutical PSUs.
News summary
- Pharmaceuticals Purchase Policy (PPP) was approved by the Cabinet in 2013 for a period of five years in respect of 103 medicines manufactured by pharma CPSUs and their subsidiaries.
- The policy is applicable to purchases by Central/ State Government departments and their Public Sector Undertakings etc.
- The pricing of the products is done by National Pharmaceutical Pricing Authority (NPPA).
- The procuring entity can purchase from Pharma CPSUs and their subsidiaries subject to their meeting Good Manufacturing Practices (GMP) norms as per Schedule ‘M’ of the Drugs & Cosmetic Rules.
Government approves strategic disinvestment of BPCL
Why in news?
- The Cabinet Committee on Economic Affairs (CCEA) has accorded ‘In-principle’ approval for strategic disinvestment in five public sector units (PSUs) as per the details below.
News summary
- Bharat Petroleum Corporation Ltd. (BPCL): Government will sell its entire 53.29% stake in BPCL. However, BPCL’s 61.65% share in Numaligarh Refinery Limited (NRL) will be retained and will be transferred to a public sector company operating in the oil and gas space.
- Shipping Corporation of India Ltd. (SCI): The government will sell its entire 63.75% stake in the SCI and will cede management control.
- Container Corporation of India Ltd. (CONCOR): Government will sell its 30.8% stake in the CONCOR and hand over management control.
- Tehri Hydro Development Corporation India Limited (THDCIL): The government will sell its entire 74.23% stake in THDCIL to NTPC Ltd. and also cede control.
- North Eastern Electric Power Corporation Limited (NEEPCO): The government will sell its entire 100% stake in the NEEPCO to NTPC Ltd. and also cede control.
National Institute of Sowa-Rigpa
Why in news?
- The Union Cabinet approved the establishment of the National Institute for Sowa-Rigpa in Leh, Union Territory of Ladakh.
News summary
- The setting up of the National Institute of Sowa-Rigpa would provide an impetus for the revival of Sowa-Rigpa in the Indian Sub-continent. The Institute will also provide opportunities for students of Sowa-Rigpa not only in India but also from other countries.
- The Institute will be an autonomous National Institute under Ministry of AYUSH with the mandate to undertake interdisciplinary education and research programmes in Sowa-Rigpa in collaboration with premier national and international Institutes.
- After setting up of NISR, the synergy among the existing Sowa Rigpa Institutions – Central University of Tibetan Studies at Sarnath, Varanasi and Central Institute of Buddhist Studies, Leh, Union Territory of Ladakh – which are under the administrative control of Ministry of Culture and NISR will be established.