NITI Aayog asked the various ministries to identify and recommend the names of more PSUs for strategic disinvestment
The push for privatisation is in line with the Centre’s plan to completely exit non-strategic sectors and reduce the number of PSUs in strategic sectors
New Delhi: In line with the government’s plan, the NITI Aayog has begun the task of identifying the next set of public sector undertakings (PSUs) for strategic disinvestment and minority stake sale, said sources. At a meeting held at the Aayog on Monday, the NITI Aayog asked the various ministries to identify and recommend the names of more PSUs for strategic disinvestment, where both ownership and management control can be transferred to a strategic player, one of the sources quoted above said.
The next round of disinvestment
The sources said that the NITI Aayog is keen on identifying PSUs and their assets that are non-strategic in nature and can be sold off in the next round. It would be up to the government to opt for strategic disinvestment or minority stake sales or monetisation of certain assets of a PSU and these details will be worked out later, the person said.
The news comes as KIOCL Limited has announced a share buyback and NTPC Limited is preparing to announce the same. The government is believed to have reached out to Coal India Ltd, NTPC Ltd, NMDC Ltd, MOIL Ltd, and Engineers India Ltd (EIL) for share buybacks this year. The push for privatisation is in line with the Centre’s plan to completely exit non-strategic sectors and reduce the number of PSUs in strategic sectors to a minimum of four.
The government aims to raise Rs 2.1 lakh crore through disinvestment by the end of financial year 2020-21. The big disinvestment plans for the year include the sale of Bharat Petroleum Corporation Ltd (BPCL), Air India, Shipping Corporation of India (SCI) and Container Corporation of India (CONCOR).
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