- News Updates
- PSU Watch
- Defence News
- Policy Watch
- हिन्दी न्यूज़
- Jobs Watch
- States News
- Event News
New Delhi: The government has set the ball rolling on the biggest disinvestment initiative since Vajpayee era that could fetch it over half of its disinvestment target for the year. If the plan falls through, the Centre will be able to raise over Rs 66,000 crores. This will be in addition to the Rs 12,357.49 crores that it has already netted. For financial year 2019-20, the government is aiming to raise a total of Rs 1.05 lakh crore from strategic sale of PSUs. This effectively means that 75 percent of the total disinvestment target will be achieved with six more months to go for the financial year to end.
A total of five PSUs have been lined up — Bharat Petroleum Corp Ltd (BPCL), Shipping Corp of India (SCI), Container Corp of India (CONCOR), THDC India and NEEPCO. A group of Secretaries have approved the sale of the government's entire stake in four public sector undertakings (PSUs) — BPCL, SCI, THDC and NEEPCO. In the case of CONCOR, however, the government will only offload 30 percent equity.
The government holds 53.29 percent stake in BPCL, 54.8 percent in CONCOR and 63.75 percent in SCI. THDC, on the other hand, is a 75:25 joint venture between the Centre and the Uttar Pradesh government. And NEEPCO belongs to the government. The stake sale in BPCL is expected to fetch around Rs 54,055 crores, CONCOR stake sale is likely to fetch Rs 11,051 crores, SCI could yield Rs 1,282 crores. The total comes to Rs 66,388 crores. For disinvestment of BPCL, the government will have to get an approval from the two Houses as the company was formed through an Act of Parliament. THDC and NEEPCO are unlisted companies and are likely to be handed over to NHPC and NTPC. Although no confirmation is available as yet.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)
