NITI Aayog begins groundwork on identifying more PSUs for sale
NEW DELHI: NITI Aayog begins groundwork on identifying more PSUs for sale – For choosing a subsequent set of public sector enterprises NITI Aayog has begun the groundwork for strategic sale and disinvestment.
A preliminary meeting is going to be held at the Aayog on Monday to spot more state-owned companies across sectors which will be put up purchasable, a top government official conscious of deliberations told ET as per ministries to recommend the names of the enterprises which may be considered for a strategic sale, where both ownership and control are going to be transferred and assets, which are non-strategic in nature, are often pushed purchasable within the next round,” the official added.
The government can choose strategic deals, disinvestment where a minority stake is going to be sold, monetization of certain assets of a corporation, or maybe a share buyback within the enterprises which will be identified. Such details are going to be figured out later.
In sync with the government’s intent to completely exit non-strategic sectors this move is to push for privatization on a war footing is in through privatization or strategic disinvestment, while retaining only which could include defense, banking and insurance, steel, and a couple of public-sector units in strategic sectors fertilizers and petroleum.
Within the current financial year through the strategic sale and another Rs 90,000 crore as the government aims to boost Rs 1.2 lakh crore from disinvestment of stake publicly sector banks and financial institutions, taking the entire to Rs 2.1 lakh crore.
Including Air India and certain assets of NTPC, Cement Corporation of India, Bharat Earth Movers and Steel Authority of India which is that the ministry to implement the government’s drive to exit non-strategic sectors, is predicted to push for the sale of BEML, Container Corporation of India, Bharat Petroleum Corporation and Shipping Corporation during a month which is predicted to fetch the govt quite Rs 45,000 crore. Work on the disinvestment in Air India is moving ahead and therefore the government hopes to kick-start the method by December.
The government has identified quite half a dozen PSUs, including NTPC, Coal India, and NMDC, for a share buyback — the govt will sell a part of its shares to the businesses through such buyback offers.
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