Divestment: Bharat Pumps

Bharat Pumps and Compressors Ltd will be the first public sector unit (PSU) to be offered for strategic sale by the government of Prime Minister Narendra Modi, said think tank, Niti Aayog, vice chairman Arvind Panagariya.

The Bharat Pumps sale would likely start privatization of loss-making PSUs.

The government has identified central public sector enterprises for disinvestment, offering 50 per cent or more of the shareholdings with management control.

The target is to raise Rs.25,000 Crore from PSU sales.

Speaking at the Economic Editors Conference this week in Delhi Nov 10-11, 2016, he said “We have pushed strongly for closure of many of the sick units (PSUs). That is something that has been talked about for decades but has not happened. It’s now happening.”

The Cabinet has approved the sale of the identified PSUs while the Finance Ministry is expected to start the privatizing process. fii-news.com