Govt. has given ‘in-principle’ approval for strategic disinvestment of 28 CPSEs : Thakur

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New Delhi  : The Government has given ‘in-principle’ approval for strategic disinvestment of 28 Central Public Sector Enterprises (CPSEs) including subsidiaries, Units and Joint Ventures with sale of majority stake of Government of India (GOI) and transfer of management control. This was stated by Anurag Singh Thakur, Union Finance & Corporate Affairs Minister in  written reply to a question in Rajya Sabha on November 19, 2019..

Besides, in certain other CPSEs, policy of minority stake sale without transfer of management control through various SEBI approved methods, are being followed in order to unlock the value, promote public ownership, and higher degree of accountability.

Thakur stated that the Cabinet Committee of Economic Affairs (CCEA) is mandated to approve strategic disinvestment of CPSEs. There is no approval yet of the CCEA with regard to strategic disinvestment of Bharat Petroleum Corporation Limited (BPCL), Container Corporation and Shipping Corporation of India, according to a PIB release.

Following is the list of 28 CPSEs, Subsidiaries, Units and Joint Ventures for which the Government has given ‘in-principle’ approval for strategic 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; Salem Steel Plant; 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,  Hindustan Antibiotics Ltd. (HAL), and Bengal Chemicals and Pharmaceuticals Ltd. (BCPL).