The divestment ministry has prepared "general guidelines" for encouraging employees of corporations to participate in the bidding process and the proposal would be placed before the Cabinet.
"The ministry felt we should have general guidelines, which would encourage employees' bids. These guidelines have been prepared after thorough discussion with people conversant with labour and trade union movement and have been circulated to other ministries for comments," Divestment Minister Arun Shourie said.
Shourie said the proposal would eventually go to the Cabinet.
"We have sent it to various ministries for their views and it will be going to Core Group of Secretaries on Divestment and then to the Cabinet Committee on Divestment," he said.
The divestment minister said the guidelines would be general but each case would have to be assessed in the light of the guidelines.
Shourie said, "the proposal had earlier come up many times. It was particularly put forward by INTUC, for instance in case of Manganese Ore."