In addition to the OFS and ETF models, the Kelkar panel has also suggested the disinvestment of minority government equity stakes in private entities. These include government holdings in SUUTI, HZL and Balco. “There is practically no economic or strategic rationale for holding on to these minority share holdings in such companies, which are essentially privately owned,” the panel said. Further, the committee also wants the government to expedite sound investment in key areas by cash-rich CPSEs. “If the CPSEs are, however, unable to find good investment outlets during this fiscal year, then the government, should, as majority owner, call for a special dividend,” it said.