Tuesday, Nov 29, 2022
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Government Focuses To Privatise, Divest CPSEs In Non-Strategic Sectors: Report

The initial work to identify CPSEs from the textile, commerce, chemicals, and fertilizers sector has also been completed, the report said.

Government has formed a panel to sell off CPSEs in non-strategic sectors.
Government has formed a panel to sell off CPSEs in non-strategic sectors.

The government is planning to form a new panel of secretaries led by NITI Aayog to privatize and divest central public sector enterprises (CPSEs), CNBCTV18 reported citing sources.

The development comes the same day when the union cabinet approved the formation of the National Land Monetisation Corp (NLMC) to monetize surplus land and buildings of PSUs, that are being sold off or are on the verge of closure and government agencies. 

NLMC, which is a wholly-owned government company, will have an initial authorized share capital of Rs 5,000 crore and paid-up share capital of Rs 150 crore. 

Notably, the government has a disinvestment target of Rs 65,000 crore for FY23. 

According to the report, the Department of Public Enterprises (DPE), the Department of Investment and Public Asset Management (DIPAM), the Department of Economic Affairs (DEA), under the chairmanship of NITI Aayog will suggest the government regarding the selection of CPSE for sale, divestment, and privatization from the non-strategic sectors. 

The initial work to identify CPSEs from the textile, commerce, chemicals, and fertilizers sector has also been completed, the report said.

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