DIPAM has already received several Expression of Interest (EoI) for strategic sale of these companies. DIPAM manages the government’s stake sale in public sector undertakings.
Government Air India, Bharat Petroleum Corporation Ltd. (BPCL) and BEML is trying to complete the privatization of Central Public Sector Undertakings (CPSEs) announced in the budget in this financial year. Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM) said this. He said that DIPAM has already received several expression of interest (EOI) for strategic sale of these companies. DIPAM manages the government’s stake sale in public sector undertakings.
Addressing an event of industry body FICCI, the Secretary said, I would say that we are curious about Air India, despite the problems. There may be some delay due to COVID-19, but broad-based disinvestment initiatives are on track.
Privatization will happen in the current financial year
In this financial year, we are expecting to close some important deals. For the first time, the Finance Minister has named the undertakings in his budget speech. We are trying to complete the privatization of those companies. Pandey said, the process of disinvestment of Shipping Corporation of India, Neelachal Ispat Nigam, BPCL and Air India is underway. We are trying to complete it in the current financial year itself.
Money will be raised by selling the land
He said that DIPAM is working on setting up a Special Unit (SPV) for monetization of CPSE lands and other surplus assets. The Finance Minister had announced the formation of an SPV for monetization of non-core assets. Pandey said, we are working on it. We want to convert this announcement into action.
He said that the land assets of the CPSEs to be closed and other non-core assets of the companies under strategic disinvestment will be pooled first and then they will be monetised. To be closed CPSEs like Scooters India Ltd., Bharat Pumps & Compressors Ltd. And HMT lands can be part of this pool.
Explain that in the budget speech, Finance Minister Nirmala Sitharaman completed strategic disinvestment in BPCL, Air India, Shipping Corporation of India, Container Corporation of India, IDBI Bank, BEML, Pawan Hans, Nilanchal Ispat Nigam Limited and LIC IPO in 2021-22. was announced to be.
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