The Narendra Modi government at the Center is moving forward on its disinvestment target. In this episode, now the way for privatization of another government company has been cleared. The government can also invite initial bids for this in January.
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Finance Minister Nirmala Sitharaman Nirmala Sitharaman When presented the budget for the financial year 2022-23, it had set a huge disinvestment target of Rs 65,000 crore. Now Prime Minister Narendra Modi (PM Narendra Modi) The central government headed by K is seen to be moving fast on this. The way for privatization of another government company has been cleared by the government, and initial bids can be called for it in January next year.
Central Government Container Corporation of India (Concor) Initial bids can be called for privatization in January next year. Official sources associated with the government have given this information. The strategic sale of CONCOR is expected to be completed in the next financial year as the process takes about 10 months to complete.
Shipping Corporation will also be privatized
According to the news of the agency, the official said that the Shipping Corporation of India from the Ministry of Corporate Affairs (SC) Approval for separation of non-core and land assets is also expected this month. In such a situation, the government can invite financial bids for SCI in March or April.
The current financial year ends in March. In such a situation, no more strategic disinvestment is expected from the government during the financial year 2022-23. Therefore, to meet the disinvestment target of Rs 65,000 crore, the government may insist on the sale of a small stake.
Getting the right price is more important
The official said that we are not pursuing the target of disinvestment. Wherever we see good value, we will disinvest. He informed that the disinvestment of BEML, HLL Lifecare and SCI (Disinvestment) The process may continue till the next financial year.
The government is selling 63.75 percent stake in SCI. This also includes transfer of management. At the same time, the government has so far raised Rs 28,383 crore by selling stake in government companies or by share buyback.
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