Government To Seek Interest For More Strategic Sales In PSUs
The government is set to float more expressions of interest (EoIs) for strategic sale in public sector firms, where full ownership and management could be handed over to private players, an official said today.
"EoIs for three to four companies will be floated in four to six weeks," Neeraj Gupta, secretary, Department of Investment and Public Asset Management (DIPAM) said. Already, EoIs for eight companies have been floated for strategic sale, he said.
Gupta said the strategic divestment of Air India was progressing without any hiccups and the government would float an EoI, but did not divulge the time-frame of it.
Speaking at the Merchants Chamber of Commerce and Industry here, Gupta said that DIPAM would make its best effort to meet the divestment target of Rs 72,500 crore this fiscal.
So far, the government has been able to realise an amount of Rs 52,500 crore through the stake sale process, he said.
Gupta said that the offer for sale (OFS) route was the best way for the government to divest, adding all permissible instruments allowed by Securities and Exchange Board of India were also in use. He also said that the Centre was committed to retain majority in certain PSUs, and that state-owned monopolies cannot be given to private hands.
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