DIPAM processing non-core assets of two PSUs
The Cabinet had in February 2019, approved the procedure and mechanism for asset monetisation of central public sector enterprises (CPSEs)/public sector undertakings (PSUs).
New Delhi: The Department of Investment and Public Asset Management is processing sale of non-core assets of two strategic sale-bound PSUs — BEML and Bridge & Roof Ltd, Minister of State for Finance Anurag Singh Thakur said on Tuesday.
The Cabinet had in February 2019, approved the procedure and mechanism for asset monetisation of central public sector enterprises (CPSEs)/public sector undertakings (PSUs).
For CPSEs under disinvestment, the non-core assets are to be identified before disinvestment and monetised through the framework.
“DIPAM is presently processing the monetisation of identified non-core surplus assets of BEML Ltd and Bridge & Roof Ltd earmarked for strategic disinvestment,” Thakur said in a written reply to the Rajya Sabha.
In reply to a separate question, Thakur said strategic disinvestment of eight CPSEs has been completed since 2016 and an amount of Rs 66,711.96 crore has been received by the government from these transactions. All of these CPSEs are profit-making. “The Government has so far given in-principle approval for strategic disinvestment of 35 CPSEs and subsidiaries/Units/Joint Ventures of CPSEs out of which eight have been completed,” he added.
Of the remaining 27, transactions with regard to 21 are ongoing, which include NMDC’s Nagarnar Steel Plant, SAIL’s Alloy Steel Plant, Durgapur; Salem Steel Plant; Bhadrawati Steel Plant, Pawan Hans, Air India, RINL, BPCL, Shipping Corp and Container Corp.
The two transactions — Hindustan Newsprint Ltd and Karnataka Antibiotics & Pharmaceuticals Ltd — are held up due to litigation. The Cabinet has approved the closure of 4 other PSUs — Hindustan Fluorocarbons Ltd, Scooters India Ltd, Bharat Pumps & Compressors Ltd and Hindustan Prefab Ltd.
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