Economy Minister Giancarlo Giorgetti announced the scheme in January as part of efforts to tighten the government's grip on key companies dealing with some of the most delicate corporate issues facing Italy.

"It is an important step that goes towards rationalising the system in line with the new economic times," Giorgetti said on Thursday.

Under the scheme, the influential Treasury department within the ministry, led by veteran economist Riccardo Barbieri, will continue to supervise public debt management, macroeconomic policies, European and international relations as well as financial regulation.

The newly created "economic department" will have its own director general and will handle the decision-making process regarding state-controlled firms, public assets and public guarantees on banking loans.

It will also oversee merger deals involving companies deemed of strategic importance.

Antonino Turicchi, the chairman of national airline ITA Airways, had been seen as a potential candidate to lead the new structure, but some political sources have said he is not interested in the job.

Marcello Sala, recently appointed director for investor relations at the Treasury, is believed to have been shortlisted for the position along with Paolo Ciocca, a board member of market watchdog Consob.

The reorganisation plan requires time to be implemented and the new director general will only take office after the upcoming round of key nominations at Treasury-owned groups, government sources said.

The boards of Eni and Enel, bailed-out bank Monte dei Paschi (MPS), defence group Leonardo and power grid Terna are due for renewal in the coming few weeks.

Rome is expected to decide on the chairperson and CEO positions of these firms by the end of next week, government sources said.

(Reporting by Giuseppe Fonte; Editing by Crispian Balmer)