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Home News News and Press Release Month 12 2019 2019 (12) This
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Government has given ‘in-principle’ approval for strategic disinvestment of 33 CPSEs

December 3, 2019
  • Contents

The Government has given ‘in-principle’ approval for strategic disinvestment of 33 Central Public Sector Enterprises (CPSEs) including subsidiaries, Units and Joint Ventures with sale of majority stake of Government of India and transfer of management control. The list of 33 CPSEs are at Annexure. This was stated by Shri Anurag Singh Thakur, Minister of State for Finance & Corporate Affairs, in a written reply to a question in Rajya Sabha today.

These include profit making as well as loss making CPSEs. Government follows a policy of strategic disinvestment of CPSEs, which are not in ‘priority sectors’ For this purpose, NITI Aayog has been mandated to identify such CPSEs based on the criteria of (i) National Security; (ii) Sovereign function at arm’s length, and (iii) Market Imperfections and Public Purpose. However, profitability/loss of the CPSEs is not among the relevant criteria.

The details of disinvestment targets set by the Ministry of Finance and achieved results each year over the last five years are as follows:

(in Rs. Crore)

Year

Budget Estimate

Revised Estimate

Actual Realisation

2014-15

43,425

26,353

24,349

2015-16

69,500

25,313

23,997

2016-17

56,500

40,500

46,247

2017-18

72,500

1,00,000

1,00,057

2018-19

80,000

80,000

84,972

Strategic disinvestment of CPSEs is being guided by the basic economic principle that Government should discontinue in sectors, where competitive markets have come of age and economic potential of such entities may be better discovered in the hands of strategic investor due to various factors such as infusion of capital, technological upgradation and efficient management practices. The success of the transaction depends on the prevailing market conditions and the investors' interest.

ANNEXURE

List of CPSEs, including Subsidiaries, Units & Joint Ventures for which Government has given 'in-principle' approval for strategic disinvestment.

 a) Transactions Completed

Serial No.

Name of CPSE

Administrative Ministry

  1.  

Hindustan Petroleum Corporation Ltd.

M/o Petroleum and Natural Gas

  1.  

Rural Electrification Corporation Ltd.

M/o Power

  1.  

Hospital Services Consultancy Ltd. (HSCC)

M/o Health and Family Welfare

  1.  

National Projects Construction Corporation (NPCC)

M/o Water Resources

  1.  

Dredging Corporation of India

M/o Shipping

 b) Transactions in process

Serial No.

Name of CPSE

Administrative Ministry

  1.  

Project & Development India Ltd.

D/o Fertilizers

  1.  

Hindustan Prefab Ltd. (HPL)

M/o Housing and Urban Affairs

  1.  

Engineering Projects (India) Ltd.

D/o Heavy Industry

  1.  

Bridge & Roof Co. India Ltd.

D/o Heavy Industry

  1.  

Hindustan Newsprint Ltd. (Subsidiary)

D/o Heavy Industry

  1.  

Scooters India Ltd.

D/o Heavy Industry

  1.  

Bharat Pumps and Compressors Ltd.

D/o Heavy Industry

  1.  

Cement Corporation of India Ltd.

D/o Heavy Industry

  1.  

Hindustan Fluorocarbon Ltd. (Subsidiary)

D/o Chemicals & Petrochemicals

  1.  

Central Electronics Ltd.

D/o Scientific and Industrial Research

  1.  

Bharat Earth Movers Ltd. (BEML)

D/o Defence Production

  1.  

Ferro Scrap Nigam Ltd. (Subsidiary)

M/o Steel

  1.  

Nagarnar Steel Plant of NMDC

M/o Steel

  1.  

Alloy Steel Plant, Durgapur; Salem Steel Plant; Bhadrwati units of SAIL

M/o Steel

  1.  

Pawan Hans Ltd.

M/o Civil Aviation

  1.  

Air India and its five subsidiaries and one JV

M/o Civil Aviation

  1.  

HLL Lifecare

M/o Health

  1.  

Indian Medicines & Pharmaceutical Corporation Ltd. (IMPCL)

M/o Ayush

  1.  

Kamarajar Port Limited

M/o Shipping

  1.  

Indian Tourism Development Corporation (ITDC)

M/o Tourism

  1.  

Karnataka Antibiotics and Pharmaceuticals Ltd.

D/o Pharmaceuticals

  1.  

Hindustan Antibiotics Ltd.

D/o Pharmaceuticals

  1.  

Bengal Chemicals and Pharmaceuticals Ltd. (BCPL)

D/o Pharmaceuticals

c) Recent ‘in-principle’ approval for strategic disinvestment

Serial No.

Name of CPSE

Administrative Ministry

  1.  

(a) Bharat Petroleum Corporation Ltd(except Numaligarh Refinery Limited)

(b) BPCL stake in Numaligarh Refinery Limited to a CPSE strategic buyer

M/o Petroleum and Natural Gas

  1.  

Shipping Corporation of India Ltd. (SCI )

M/o Shipping

  1.  

Container Corporation of India Ltd. (CONCOR)

M/o Railways

  1.  

THDC India Limited (THDCIL)

M/o Power

  1.  

North Eastern Electric Power Corp. Ltd. (NEEPCO)

M/o Power

 

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