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More PSUs for sale; NITI Aayog starts work to identify public sector enterprises

A preliminary meeting would be held at NITI Aayog on Monday to identify more companies. The meeting would be held to assess which companies and assets are non-strategic in nature and can be pushed for sale in the next round

twitter-logoBusinessToday.In | October 26, 2020 | Updated 09:56 IST
More PSUs for sale; NITI Aayog starts work to identify public sector enterprises

NITI Aayog has started groundwork to select the next batch of public sector enterprises for strategic sale and disinvestment. Different ministries would recommend names of the public enterprises that can be considered for sale.

A preliminary meeting would be held at NITI Aayog on Monday to identify more companies, according to a report in The Economic Times. A person in the know said that meeting would be held to assess which companies and assets are non-strategic in nature and can be pushed for sale in the next round.

The government could opt for strategic deal, disinvestments with sale of minority stake, monetisation of certain assets or even share buyback. The details will be worked out later, the daily said.

The government plans to completely exit non-strategic sectors through privatisation or strategic disinvestment. It aims to retain only a few public-sector units in strategic sectors that might include defence, banking and insurance, petroleum, steel and fertilisers. The Centre aims to raise Rs 1.2 lakh crore in the current fiscal through strategic sale. Rs 90,000 crore from disinvestment of stake in PSBs is also part of this year's goal, taking the total to Rs 2.1 lakh crore.

In the first round of disinvestment NITI Aayog had recommended 48 companies including Air India, and some assets of NTPC and Steel Authority of India.

Department of Investment and Public Asset Management (DIPAM) is likely to push the sale of  Bharat Petroleum Corporation, Shipping Corporation, BEML and Container Corporation of India in a month.

Also read: Amit Shah-led panel to discuss Air India sale; extension of EOI deadline on agenda

Also read: Govt to fetch Rs 60,000 crore from BPCL, Concor, SCI, BEML sale

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