With 35 Central Public Sector Enterprises (CPSEs) being lined up for strategic sale, the Finance Ministry is planning to streamline processes to cut down the time for the outright sale of such state-owned companies.
Taking a cue from the ongoing strategic sale of Pawan Hans, the Department of Investment and Public Asset Management (DIPAM) is keen that the long-drawn sale process of CPSEs be simplified so that more than one company could be taken up for the sell-off simultaneously. “We are going to correct the procedure [for strategic sale]. It is a bit long and long-winding, which was all right initially as everybody had to take precautions. Now, with precaution, we understand how to go ahead. The process is very important for strategic disinvestment and that is going to be our endeavour [to simplify it],” DIPAM Secretary Atanu Chakraborty said.
Recently, NITI Aayog submitted to the DIPAM the fifth list of CPSEs, profitable and non-profitable, which can go in for a strategic sale.
The firms that have been shortlisted for strategic sale include Air India, Air India subsidiary AIATSL, Dredging Corporation, BEML, Scooters India, Bharat Pumps Compressors, and Bhadrawati, Salem and Durgapur units of SAIL.