Gujarat govt prepares elaborate divestment plan of state-run PSUs

Gandhinagar: Following the central government's policy of strategic disinvestment of PSUs, the Gujarat government has begun the process of divesting from the state-run PSUs reported TOI on Friday. It further stated that chief advisor to CM, Hasmukh Adhia has been assigned the responsibility of ensuring disinvestment from state-run PSUs. Citing a source, the report also highlighted that the government could form an expert consultative committee to plan certain aspects of the disinvestment.

'Resources generated through divestment process to be used for debt restructuring'

"The resources generated through the divestment process will be used for debt restructuring and making more funds available for public projects. As per the estimates stated by the state government, the market value of key state PSUs is around Rs 70,000 crore and the value of their assets is between Rs 1.5 lakh crore and Rs three crore," it reported.

Public Enterprises Survey 2021-22 shows net profit of PSUs up by 51% y-o-y

'State government will be freed from its debts over 3 lakh cr'

According to sources, if the privatisation exercise is completed as per the plan, then the state government will be freed from its debts over three lakh crores as well as annual burden of paying Rs 20,000 crore as interest on the debt. The report by TOI also stated that in the last five years, the state government has paid Rs one lakh crore interest on its massive public debt.

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