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Finance Ministry says strategic disinvestment in 8 out of 34 PSUs completed

6 PSUs are for closure and litigation while transactions for 20 PSUs are at various stages

Posted : 15 September, 2020
Author : Admin
Finance Ministry says strategic disinvestment in 8 out of 34 PSUs completed

In a question from DMK M.P. P Veluswamy in the Lok Sabha, Minister of State for Finance, Anurag Thakur, on Monday, answered : 

Based on the criteria laid down by NITI Aayog, the Government has ”in principle” approved strategic disinvestment in 34 cases since 2016, out of which strategic disinvestment in 8 cases has been completed, 6 CPSEs are under consideration for closure and litigation, and remaining 20 transactions are at various stages. The details are at Annexure.

Upon strategic disinvestment, the management control of the company shall be in the hands of strategic buyer. While deciding the terms and conditions of the strategic sale, employees’ concerned are suitably addressed through appropriate provisions made in the Share Purchase Agreement (SPA) to be signed by the Government with the strategic buyer.

Disinvestment of PSUs Latest News: List of CPSEs

List of CPSEs, including Subsidiaries, units and Joint ventures, for which Government has given in-principle” approval for strategic disinvestment.

a) Transactions Completed

S.No. Name of CPSE
1. Hindustan Petroleum Corporation Limited
2. Rural Electrification Corporation Limited (REC)
3. Hospital Services Consultancy Ltd. (HSCC)
4. National Project construction corporation (NPCC)
5. Dredging Corporation of India Ltd. (DCIL)
6. THDC India Limited (THDCIL)
7. North Eastern Electric Power Corporation Limited (NEEPCO)
8. Kamrajar Port Ltd.

b) CPSEs under consideration for closure/ under litigation.

9. Hindustan Fluorocarbon Ltd. (HFL)
10. Scooters India Limited
11. Bharat Pumps & Compressors Ltd
12. Hindustan Prefab Limited (HPL).
13. Hindustan Newsprint Ltd
14. Karnataka Antibiotics & Pharmaceuticals Ltd.

c) Transactions in process

S.No Name of CPSE
15. Project & Development India Ltd.
16. Engineering Project (India) Ltd.
17. Bridge and Roof Co. India Ltd.
18. Units of Cement Corporation of India Ltd (CCI)
19. Central Electronics Ltd
20. Bharat Earth Movers Ltd. (BEML)
21. Ferro Scrap Nigam Ltd.(sub.)
22. Nagarnar Steel Plant of NMDC
23. Alloy Steel Plant, Durgapur; Salem Steel Plant; Bhadrawati units of SAIL
24. Pawan Hans Ltd.
25. Air India and its five subsidiaries and one JV.
26. HLL Life Care Ltd.
27. Indian Medicine & Pharmaceuticals Corporation Ltd. (IMPCL)
28. Various Units of Indian Tourism Development Corporation (ITDC)
29. Hindustan Antibiotics Ltd. (HAL)
30. Bengal Chemicals and Pharmaceuticals Ltd. (BCPL)
31. (a) Bharat Petroleum Corporation Ltd(except Numaligarh Refinery Limited) (b) BPCL stake in Numaligarh Refinery Limited to a CPSE strategic buyer.
32. Shipping Corporation of India (SCI)
33. Container Corporation of India (CONCOR)
34. Nilachal Ispat Nigam Limited (NINL)