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Government has given ‘in-principle’ approval for strategic disinvestment of 33 CPSEs

By PIB Delhi

The Government has given ‘in-principle’ approval for strategic disinvestment of 33 Central Public Sector Enterprises (CPSEs) including subsidiaries, Units and Joint Ventures with sale of majority stake of Government of India and transfer of management control. The list of 33 CPSEs are at Annexure. This was stated by Shri Anurag Singh Thakur, Minister of State for Finance & Corporate Affairs, in a written reply to a question in Rajya Sabha today.

These include profit making as well as loss making CPSEs. Government follows a policy of strategic disinvestment of CPSEs, which are not in ‘priority sectors’ For this purpose, NITI Aayog has been mandated to identify such CPSEs based on the criteria of (i) National Security; (ii) Sovereign function at arm’s length, and (iii) Market Imperfections and Public Purpose. However, profitability/loss of the CPSEs is not among the relevant criteria.

The details of disinvestment targets set by the Ministry of Finance and achieved results each year over the last five years are as follows:

(in Rs. Crore)

Strategic disinvestment of CPSEs is being guided by the basic economic principle that Government should discontinue in sectors, where competitive markets have come of age and economic potential of such entities may be better discovered in the hands of strategic investor due to various factors such as infusion of capital, technological upgradation and efficient management practices. The success of the transaction depends on the prevailing market conditions and the investors’ interest.

ANNEXURE

List of CPSEs, including Subsidiaries, Units & Joint Ventures for which Government has given ‘in-principle’ approval for strategic disinvestment.

a) Transactions Completed

b) Transactions in process

c) Recent ‘in-principle’ approval for strategic disinvestment

About Post Author

Editor Desk

Antara Tripathy M.Sc., B.Ed. by qualification and bring 15 years of media reporting experience.. Coverred many illustarted events like, G20, ICC,MCCI,British High Commission, Bangladesh etc. She took over from the founder Editor of IBG NEWS Suman Munshi (15/Mar/2012- 09/Aug/2018 and October 2020 to 13 June 2023).

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https://in.linkedin.com/in/sumanmunshi

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