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A total of 20 PSUs are currently undergoing disinvestment: MoS Finance

Minister of State (MoS) for Finance Dr Bhagwat Kishanrao Karad has said that the government is currently processing transactions for a total of 20 PSUs
A total of 20 PSUs are currently undergoing disinvestment: MoS Finance
A total of 20 PSUs are currently undergoing disinvestment: MoS Finance
  • Dr Karad told the Lok Sabha that 17 PSU disinvestment transactions, including Air India, is currently being processed by DIPAM
  • In addition, three more PSU disinvestments are currently being processed by other administrative ministries, said the minister

New Delhi: Minister of State (MoS) for Finance Dr Bhagwat Kishanrao Karad has said that the government is currently processing transactions for a total of 20 PSUs. In a written response to a question raised on Monday, the first day of the Winter Session of Parliament, Dr Karad told the Lok Sabha that 17 PSU disinvestment transactions, including Air India, is currently being processed by the Department of Investment and Public Asset Management (DIPAM) and the remaining three are being processed by other administrative ministries.

Disinvestment: List of 17 PSUs

According to the minister, the list of 17 PSUs that are currently being processed by DIPAM includes:
1.    Project & Development India Limited (PDIL)
2.    Engineering Project (India) Limited (EPIL)
3.    Bridge and Roof Co India Limited
4.    Central Electronics Limited
5.    BEML Limited
6.    Ferro Scrap Nigam Limited (subsidiary)
7.    Nagarnar Steel Plant of NMDC Limited
8.    Alloy Steel Plant, Durgapur (halted for time being), Salem Steel Plant, Bhadrawati Steel Plant (Units of SAIL)
9.    Pawan Hans Limited
10.    Air India and five of its subsidiaries
11.    HLL Lifecare Limited
12.    Indian Medicines Pharmaceuticals Corporation Limited
13.    Bharat Petroleum Corporation Ltd (BPCL), except Numaligarh Refinery Limited
14.    Shipping Corporation of India (SCI)
15.    Container Corporation of India (CONCOR)
16.    Neelachal Ispat Nigam Limited (NINL)
17.    Rashtriya Ispat Nigam Ltd (RINL)

Other PSU disinvestments in pipeline

Dr Karad told the Lok Sabha that in addition three more PSU disinvestments are currently being processed by other administrative ministries. The list includes various units of India Tourism Development Corporation Limited (ITDC), Hindustan Antibiotics Limited and Bengal Chemicals & Pharmaceuticals Limited.

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The government has also recommended five PSUs for closure — Hindustan Fluorocarbons Limited (subsidiary), Scooters India Limited, Bharat Pumps & Compressors Limited, Hindustan Prefab Limited and units of Cement Corporation of India Limited.

Background

Under the new public sector policy, the government has stated its intention to privatise, disinvest or close PSUs in non-strategic sectors and retain a bare minimum number of PSUs within its control in strategic sectors. Strategic sectors include Atomic energy-Space and Defence, Transport and Telecommunications, Power-Petroleum-Coal and other minerals, and Banking-Insurance and financial services. After a long hiatus, the Centre has just signed the final agreement for the disinvestment of Air India. The government is looking to raise Rs 1.75 lakh crore from disinvestment in FY22.

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