New Delhi: Public sector-sector company disinvestment returns to the path after a covid-induced setback, and the Dipam aims to conclude a number of transactions at the end of March, the Department of Investment and Secretary of Public Asset Management Tuhin Kanta Pandey said on Wednesday.
He also said that Mega Perdana Public Offering (IPO) of the Life Insurance Corporation (LIC) is estimated at the end of the current fiscal, and the government is looking to collect Rs 50,000 Crore as a dividend from a government-managed company.
Emphasizing the privatization of Indian air, BPCL, shipping Corp of India, Pawan Hans, BEML and NEELACHAL ISPAT NIGAM LTD will be completed this year, Pandey said changes in ownership and control will increase the assessment of these companies.
“Covid really hit us very badly …
it’s much easier to do market transactions, it’s much more difficult to do strategic sales where the bidder will truly control the company and the thorough testing process is very strict.
There is travel control, gradually They have been appointed, our disinvestment returns to the track, “he said.
Speaking in the Virtual Cii annual session, Pandey noted that “we intend to privatize Indian air, privatization of BPCL, shipping Corp of India, Pawan Hans, Beml and Neelachal Ispat Nigam Ltd this year.” “In privatization, about policy and implementation, we seem to be moving forward strongly.
But I believe that if we can solve some of the privatization we have done, it will give us a lot of Fillip and learning.” There is a long gap in a long length of 17 years where strategic disinvest has not occurred in the private room, although some of them have occurred in the CPSE room, which is a policy that the government has moved from, “he said.
He further said these companies get enough interests From the bidder and now in a thorough test and the financial offer stage.
On strategic disinvestable from Corp.
Compaser India, he said expression of interest is also expected immediately after the land lease policy was completed.
In addition, the initial commemoration of the anticipated from LIC is expected in the current financial year .
LIC lists will be very important for the government in meeting the consensible target of Rs 1.75 lakh crore for 2021-22 (april-march).
So far, it has accumulated around RS 8,368 Crore by selling shares at Bank Axis, NMDC Ltd and housing and urban areas Corp.
Pandey said the Second Infrastructure Investment Transportation (Invit) is likely to cards to monetize gail pipes.
He also said the ‘plug-the-gap’ approach would not be very helpful for disinvestment.
On the contrary, “we must have a reform approach.
And the Reformation approach is the real operational efficiency of public sector companies to come …
change control, change change, which will provide a lot of Fillip.” “We have seen whether we have several registered companies and we announce privatization, immediately stock prices rise, so that means the market assesses the companies more in personal hands,” show it.
Minister of Finance Nirmala Sitharaman in 2021-22 budget speeches has announced a large ticket privatization agenda, including the privatization of two public sector banks and one general insurance company.
“We propose to take the privatization of two public sector banks and one general insurance company in 2021-22.
This will require legislative amendments,” he said.
Corporate, there are four general insurance companies in the Public Sector – National Insurance Company Limited, New India Assurance Company Limited, Oriental Insurance Company Limited and United India Insurance Company Limited.
Now, one of them will be privatized where the government has not finished the name.
In budget 2021-22, the government announced the PSE privatization policy (public sector business) in accordance with where all PSUs will be privatized, restrictions on major companies in four strategic sectors atomic energy, space and defense; Transportation and telecommunications; Strength, petroleum, coal and other minerals; and banking, insurance and financial services.
In these strategic sectors, the government will only maintain a minimum number of minimum PSU.