Speed Post News Network
New Delhi : Department of Investment and Public Asset Management (DIPAM) on November 16, 2020, signed an agreement with World Bank. Under the agreement, World Bank is to provide advisory services to DIPAM for asset monetisation.
DIPAM is mandated with facilitating monetisation of non-core assets of government CPSEs under strategic disinvestment or closure and enemy property of value of Rs 100 crore and above. DIPAM has a framework for monetising non-core assets. The World Bank advisory project, approved by the Finance Minister, is aimed at analysing public asset monetisation in India and benchmarking its institutional and business models against international best practices as well as supporting development of operational guidelines and capacity building for their implementation, according to a PIB release.
It is expected that this project would facilitate and accelerate the non-core asset monetisation process and help unlock the value of these un-used/ marginally used assets which has the potential to substantially augment financial resources for further investments and growth.