31.1 C
Delhi
Saturday, May 15, 2021

Dozen privatisation proposals may be considered in FY22

- Advertisement -

Kerala tops Niti Aayog's school education quality indexNew Delhi, March 6 (IANS) The government’s privatisation drive will see about a dozen profit-making entities being put up for disinvestment under the strategic route in FY22, two persons familial with the matter said.

They said that that NITI Aayog has been asked to finalise the first list of public sector enterprises to be put up for privatisation.

This list would focus on profit making entities operating in non-core areas that could help the government realise better valuations and good investor interest.

“The idea is to bring better performing companies that have to be privatised first so that investor interest is generated in government’s strategic sale programme. Water will be tested for loss-making and such entities later,” said the person quoted earlier.

READ ALSO:  Apollo Hospitals gearing up to give one million vaccines a day

Accordingly, sources said that the first list of privatisation may include at least two public sector banks that have been brought out from the prompt corrective action (PCA) framework, one non-life insurer, Bhadrawati and Salem units of steel major SAIL, Central Electronics, Cement Corporation of India, Nagarnar Steel Plant of NMDC, Bharat Earth Movers.

But the first among the companies to be privatised may be the ones where the process was already initiated FY21. The cabinet has given the nod for some major strategic stake sales in companies including Air India, Bharat Petroleum Corporation (BPCL), Shipping Corporation, Container Corporation, and IDBI Bank, sale process of some are already in advanced stage.

READ ALSO:  Air India facing a very challenging financial situation: Hardeep Puri
READ ALSO:  Small satellites to populate the skies by 2027: Saraswat

The government has budgeted Rs 1.75 lakh crore from stake sale in public sector companies and financial institutions, including 2 PSU banks and one insurance company, in the next fiscal year.

Source: IANS

India Updates
India Updates is an independent news & Information website. Follow us for regular updates on News and Information.

Follow Us On

Related News

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Topics In India

Covid 19 India Updates

Trending News In India

Trending Showbiz

Trending Sports

Latest Trending News In India