DIPAM in process of carrying on disinvestment of 11 PSUs: MoS Finance

The DIPAM is currently in the process of carrying on the disinvestment of 11 PSUs, said Dr Bhagwat Karad, the Minister of State (MoS) for Finance
Disinvestment (Image is for representation only)
Disinvestment (Image is for representation only)

New Delhi: The Department of Investment and Public Asset Management (DIPAM) is currently in the process of carrying on the disinvestment of 11 PSUs, said Dr Bhagwat Karad, the Minister of State (MoS) for Finance, in the Lok Sabha on Monday. Out of 36 PSUs that received a nod for strategic disinvestment from the government back in 2016, only 10 have been disinvested so far. Out of these 10 transactions, only two involved privatisation, said Dr Karad in response to a question raised in the House.

The list of 11 PSUs slated for disinvestment includes BEML Limited. Shipping Corporation of India (SCI), Container Corporation of India Limited (CONCOR), HLL Lifecare Limited, Project & Development India Limited, Ferro Scrap Nigam Limited (subsidiary), Indian Medicines Pharmaceuticals Corporation Limited, Rashtriya Ispat Nigam Limited, NMDC Steel Limited (NSL), Pawan Hans Limited and IDBI Bank.

Disinvestment (Image is for representation only)
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Disinvestment of 2 PSUs called off due to lack of bidder interest

The minister told the House that the EoI process of two PSUs — Bharat Petroleum Corporation Ltd (BPCL) and Steel Authority of India Limited’s (SAIL) Bhadrawati Steel Plant have been called off due to lack of interest from bidders. While the disinvestment of Central Electronics Limited (CEL) has been terminated because the successful bidder was disqualified, the transaction for SAIL’s Alloy Steel Plant in Durgapur has been halted for the time being.

The government has also approved the closure of Hindustan Fluorocarbons Limited (subsidiary), Scooters India Limited and Bharat Pumps & Compressors Limited. The disinvestment of Karnataka Antibiotics & Pharmaceuticals Limited has been held up due to litigation.

And the disinvestment of Hindustan Antibiotics Limited, Bengal Chemicals & Pharmaceuticals Limited and various units of India Tourism Development Corporation (ITDC) Limited.

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