Friday, March 24, 2017

NITI Aayog recommends disinvestment in 12 PSUs: Media report

GOVERNMENT thinktank NITI Aayog has recommended the stake sale in 12 central public sector enterprises (CPSEs). These PSUs include National Textile Corporation, Fertilisers and Chemicals Travancore, Hindustan Antibiotics, Scooters India and Hindustan Fluorocarbons.
A senior government official was quoted as telling a leading financial daily that this list of 12 PSUs has been sent to a core group of secretaries headed by the cabinet secretary. This group will...
further suggest the maethod and quantum of strategic divestment to the Cabinet Committee on Economic Affairs.
After the cabinet's nod, the disinvestment process will be started by the department of investment and public asset management (DIPAM).
“The government will continue to push for closure and strategic sale of loss-making CPSEs,” the official said.
For FY18, the NDA government hopes to raise Rs 72,500 crore by divesting stakes in public sector firms. Compared to the revised estimate of Rs 45,500 crore for FY17, this is an increase of around 60 percent.
For the upcoming financial year the government plans to achieve the target amount of Rs 72,500 crore by raising Rs 46,500 crore via minority stake sale, Rs 15,000 crore through strategic stake sale and Rs 11,000 from the listing of various insurance companies.
As per government data, so far it has received Rs 29589.98 crore from selling its minority stake in various public sector undertaking (PSU) companies and Rs 9,778.71 crore by divestment of SUUTI holdings in L&T and ITC.

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