New Delhi: The government is trying to complete the privatization of the Central Public Sector (CPSES) company listed in the budget, including Air India, BPCL, and BEML, in the late fiscal year at March 2022, Secretary Dipa Tuhin Kanta Pandey said on Wednesday.
The Department of Investment and Management of Public Assets (Depam), which manages the sales of government equity in public sector companies, has received several EOIS expressions for strategic sales of these companies.
“I would definitely say Air India we were very interested …
Even though there was a problem, we might have a delay because Covid but it was widely done on track.
Some of the main transactions that we must complete in this financial year, for the first time the Minister of Finance has been mentioned In budget speeches that named the company …
we strive to conclude the transaction, “Pandey said.
Speaking at the FICCI event, the secretary of the word Beml, shipping Corp of India, Neelachal Ispat Nigam, BPCL and Air India are companies where the process of disinvestment is underway.
“We try to finish this fiscal,” he said.
Pandey further said Dipm worked to make special purpose vehicles (SPV) to monetize soil and other surplus assets from CPses.
“In monetizing non-core assets …
Minister of Finance has announced a special purpose vehicle that will be formed because of this.” We are working on it and trying to change the announcement to be an action, which is actually to allow SPV to activate monetization faster than soil and other surplus assets from the company, “he said.
Assets of the Central Public Sector Company (CPSES) which will be closed and non-assets The other core in a strategic divestment will be collected and then monetized.
CPES land assets such as Indian Scooters Ltd., Hindustan Flourocarbon Ltd, Bharat Pumps and Compressors Ltd and HMT – which will be closed down – can form parts of a land collection for sale by SPV.
In The budget is 2021-22 speech, Minister of Finance Nirmala Sitharaman has said, “Monetizing land can be in direct sales or concessions or in a similar way.
This requires special abilities and for this purpose, I propose to use special purpose vehicles in the form of companies that will carry out this activity.
“In the current fiscal, the government aims to clean Rs 1.75 lakh crore from the Disinvestment CPSE.
Of this number, Rs 1 Lakh Crore is from selling government shares in public sector banks and financial institutions.
Rs 75,000 Crore will come as Acceptance of CPSE Disinvestment.
In the budget speech, Sitharaman has said strategic disinvestable BPCL, Air India, shipping Corporation from India, Container Corporation of India, IDBI Bank, BEML, Pawan Hans, Neelachal Ispat Nigam Ltd, among other things, and IPO LIC will be completed on 2021-22.
Also, the process of privatization of the IDBI Bank is scheduled to be completed.
In current fiscal.
‘The government strives to complete the privatization of registered CPses in the budget’
