PSU disinvestment: This year the Union government hopes to earn Rs 1.05 lakh crore from dilution of its stake in the central PSUs.
Disinvestment: The Union government is hoping to garner more than Rs one lakh crore in this financial year from the sale of its shares in PSUs. In her maiden budget, finance minister Nirmala Sitharaman has estimated that the government’s disinvestment proceeds to be Rs 1.05 lakh crore, an increase of 31% over the last year’s figure. In the revised estimate for FY 2018-19, the Union government has pegged its disinvestment proceeds at Rs 80,000, the same as in the budget estimate. The government has identified 28 central PSUs for disinvestment this year. It also includes national air carrier Air India.
The government has been trying to find a buyer or strategic partner for Air India for several years. However, its efforts to sell the national carrier has not succeeded due to huge loan liabilities of the ailing carrier.
“The government has given in-principle approval for strategic disinvestment of 28 CPSEs including subsidiaries, Units and Joint Ventures with sale of majority stake of Government of India and transfer of management control,” Anurag Thakur, minister of state for finance, informed the Rajya Sabha.
The government has estimated that it will be able to earn Rs 1.05 lakh crore in this fiscal by diluting its stake in these companies. However, it informed the Rajya Sabha that the proceeds from the strategic sale will depend on various factors, including market condition, at the time of actual sale.
Here is the complete list of Central PSUs identified by the government for disinvestment:
* Project & Development India Ltd.
* Hindustan Prefab Limited (HPL).
* Hospital Services Consultancy Ltd. (HSCC)
* National Project construction corporation (NPCC)
* Engineering Project (India) Ltd.
* Bridge and Roof Co. India Ltd.
* Pawan Hans Ltd.
* Hindustan Newsprint Ltd(subsidiary)
* Scooters India Limited
* Bharat Pumps & Compressors Ltd
* Hindustan Fluorocarbon Ltd. (HFL) (sub.)
* Central Electronics Ltd
* Bharat Earth Movers Ltd. (BEML)
* Ferro Scrap Nigam Ltd.(sub.)
* Cement Corporation of India Ltd (CCI)
* Nagarnar Steel Plant of NMDC
* Alloy Steel Plant, Durgapur of SAIL
* Salem Steel Plant of SAIL
* Bhadrawati units of SAIL
* Air India and its five subsidiaries and one JV.
* Dredging Corporation of India
* HLL Life Care
* Indian Medicine & Pharmaceuticals Corporation Ltd. (IMPCL)
* Karnataka Antibiotics
* Kamrajar Port
* Indian Tourism Development Corporation (ITDC)
* Rural Electrification Corporation Limited (REC)
* Hindustan Petroleum Corporation Limited