Cabinet gives an approval to PSU strategic stake sale
DSIJ Intelligence / 28 Oct 2016
The Union Cabinet has given an approval to NITI Aayog's proposal for strategic sale of state-owned firms and entrusted Department of Investment and Public Asset Management (DIPAM).
The Union Cabinet has given an approval to NITI Aayog's proposal for strategic sale of state-owned firms and entrusted Department of Investment and Public Asset Management (DIPAM). The management control in PSUs can be transferred to private players. DIPAM would work out the broad methodology and valuation, thereafter fixing the base price for each of the PSU being put up for strategic sale.
The government has budgeted to raise Rs 20500 crore via strategic stake sale of PSUs. Meanwhile, centre would not rush to sell the companies in order to achieve the target. Besides strategic sale, government plans to raise Rs 36000 crore through PSU minority stake sale. It has already raised Rs 8632 crore through share buyback and Offer for Sale.
Each PSU would be examined separately by DIPAM and the administrative ministry concerned and then a final view would be taken by the Cabinet on strategic sale.
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