Government gives green chit for disinvestment in 23 CPSEs

Minister of State for Finance, Anurag Thakur, informed the Lok Sabha that the Government has given ‘in-principle’ approval for strategic disinvestment of 23 central public sector enterprises (CPSEs). These include subsidiaries, units and joint ventures. These include firms like Project & Development India Ltd, Hindustan Prefab Limited (HPL), Engineering Project (India) Ltd., Bridge and Roof Co. India Ltd, Pawan Hans Ltd, Air India.

“During the last two years, strategic disinvestment of 5 CPSEs (HPCL, REC, NPCC, HSCC and DCIL) has been successfully completed. Profitability is not a criterion for strategic disinvestment,” the minister said. In the context of the crisis in the banking sector, he opined, “To strengthen and improve the performance of PSBs, Government has taken comprehensive steps under its 4R’s strategy that comprises recognising NPAs transparently, recapitalising PSBs and reforming banks through the PSB Reforms Agenda.”