FinMin to seek Cabinet nod for setting up company to monetise land assets of privatisation-bound CPSEs
PTI, Oct 17, 2021, 2:07 PM IST
New Delhi: The finance ministry will soon move the Cabinet to seek approval for setting up a company for transfer and subsequent monetization of land and non-core assets of privatization-bound CPSEs, an official said.
A special purpose vehicle (SPV) in the form of a company would be set up to hold these assets which would be monetized to fetch value to the exchequer, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said.
”We are talking about a company which will be there for many years, which will specialize in handling surplus land and non-core asset monetization. We are expecting it shortly. As soon as we get Cabinet approval,” Pandey told PTI.
There are some CPSEs for strategic disinvestment and ”we feel certain portion of land is not really worth going with the company and those assets could be monetized”, he said.
Post Cabinet nod, the Department of Public Enterprises (DPE), which is now under the Ministry of Finance, will be entrusted with doing the asset monetization.
The government is targeting to conclude the strategic sale of BPCL, Shipping Corporation of India, IDBI Bank, BEML, Pawan Hans, Neelachal Ispat Nigam Ltd, this fiscal.
In the 2021-22 Budget, the government announced the PSE (public sector enterprises) privatization policy as per which all PSUs will be privatized, barring four strategic sectors of Atomic energy, Space and Defence; Transport and Telecommunications; Power, Petroleum, Coal and other minerals; and Banking, Insurance, and financial services.
In these strategic sectors, the government will retain only a bare minimum number of PSUs.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Will review INDI alliance’s dismal performance in Maharashtra, says Tejashwi Yadav
Minor girl out with friend raped in MP forest; truck driver, associate held
Kangana says MVA lost in Maharashtra because it disrespected women
All-party meet: Govt seeks smooth Winter Session, Congress pushes for early debate on Adani issue
Container truck hits road divider on Mumbra bypass, disrupts traffic
MUST WATCH
Latest Additions
Ullal: Auto-rickshaw accident near Konaje claims driver’s life
Congress victory in bypolls not a clean chit to CM in MUDA case: R Ashoka
IPL 2025 | Got someone who can do captaincy job: Ricky Ponting on Shreyas Iyer
Will review INDI alliance’s dismal performance in Maharashtra, says Tejashwi Yadav
Gangavati Railway Station to be renamed Anjanadri: M.B. Patil
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.