Tuesday, June 28, 2022

Disinvestment: World Bank to provide advisory services to DIPAM for asset monetisation

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New Delhi: The Department of Investment and Public Asset Management (DIPAM) has signed an agreement with the World Bank on November 16. Under the agreement, the World Bank is to provide advisory services to DIPAM for asset monetisation, said an official statement released by the Ministry of Finance on Monday. 

DIPAM is mandated with facilitating monetisation of non-core assets of government CPSEs under strategic disinvestment or closure and enemy property of the value of Rs 100 crore and above. DIPAM has a framework for monetising non-core assets. The World Bank advisory project, approved by the Finance Minister, is aimed at analysing public asset monetisation in India and benchmarking its institutional and business models against international best practices as well as supporting the development of operational guidelines and capacity building for their implementation.

ALSO READ: DIPAM sets ball rolling for privatisation of MSTC subsidiary Ferro Scrap Nigam Ltd

It is expected that this project would facilitate and accelerate the non-core asset monetisation process and help unlock the value of these un-used/ marginally used assets which has the potential to substantially augment financial resources for further investments and growth.

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