India Development News & Foreign Investment Opportunities

Disinvestment: 28 CPSEs given in-principle approval

Govt to transfer management control

0

Govt to transfer management control

 

Hindustan Petroleum Corp Ltd

 

The Government has given ‘in-principle’ approval for strategic disinvestment of 28 Central Public Sector Enterprises (CPSEs) including Subsidiaries, Units and Joint Ventures with sale of majority stake of Indian Government and transfer of management control.

The proceeds from strategic sale will depend on various factors, including market conditions, at the time of actual sale, Minister for Heavy Industries & Public Enterprises, Arvind GanpatSawant, said in a written reply in the Rajya Sabha on 24 June 2019.

As per Public Enterprises Survey 2017-18 that was laid in the Parliament on 27 December 2018, there were 339 CPSEs as on 31 March 2018, out of which 257 were in operation.

Of the 257 operating CPSEs, 71 CPSEs had incurred losses during 2017-18.

Strategic disinvestment has been completed in two of the 16 Navaratna CPSEs. The two were Hindustan Petroleum Corporation Ltd and Rural Electrification Corporation Limited.

At present there is no proposal for strategic disinvestment of other Navaratna CPSEs, said the Minister. Fiinews.com

Leave A Reply

Your email address will not be published.