The Centre has given ‘in-principle’ approval for strategic disinvestment of 23 Central Public Sector Enterprises (CPSEs) including subsidiaries, units and Joint ventures with sale of its majority stake and transfer of management control, said Minister of State (MoS) for Finance Anurag Thakur.
While replying to a question in Lok Sabha, Thakur said that the CPSEs for which the ‘in-principle’ approval for strategic disinvestment has been given include Project & Development India Limited, Hindustan Prefab Limited, Engineering Project (India) Limited, Pawan Hans Limited, Air India and its five subsidiaries and one joint venture, and Indian Tourism Development Corporation (ITDC), among others.
“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,” he said.
The minister added that strategic disinvestment has been guided by the basic economic principle that the Government should not be in the business to engage itself in manufacturing or producing goods and services in sectors where competitive markets have come of age.