Mumbai: The government has approved steps for disinvestment in Tyre Corporation of India (TCI), a sick public-sector enterprise, under which it will allow the PSE to form a joint venture with a private company.

The disinvestment would be carried out through an amendment in Tyre Corporation of India Ltd (Disinvestment of Ownership) Bill, 2007.

"The union cabinet today gave its approval for making necessary amendments in TCIL Bill, 2007 pending in Lok Sabha,'''' information and broadcasting minister P R Dasmusi. He said the company can be revived in a sustainable manner only through a joint venture.