New Delhi :  In order to ensure transparency in the disinvestment process, Finance Ministry has decided to appoint retired bureaucrats and prominent private sector executives as independent monitors to oversee working of merchant bankers and others associated with PSU stake sale, reports PTI.

For this purpose, the Finance Ministry will hire Independent External Monitors (IEMs) in the Department of Disinvestment (DoD) in consultation with Central Vigilance Commission.

“IEMs shall monitor the bidding process and also monitor the execution of contract by bidders/appointed parties and review objectively and independently whether and to what extent the parties comply with the obligations under the integrity pact,” the DoD said while inviting applications.

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