New Delhi: Two people familiar with the matter will see in the privatization action of the government that a dozen lucrative institutions are being offered on the strategic route in FY22.
They said NITI Aayog had been asked to finalize the first list of public enterprises offered for privatization.
This list will focus on profitable businesses operating in non-core areas, which can help the government achieve better valuations and good investor interest.
‘The idea is to first bring in better performing companies that need to be privatized so that investors can have an interest in the government’s strategic sales program. Water will be tested later for loss-making, and such institutions will be tested later.
Consequently, sources said that the first list of privatization could include at least two banks in the public sector taken from the immediate affirmative action framework (PCA), one non-life insurer, Bhadrawati and Salem units of steel, the largest SAIL , Central Electronics. , Cement Corporation of India, Nagarnar Steel Plant of NMDC, Bharat Earth Movers.
But the first among the companies privatized may be those where the process has already begun FY21. The cabinet has given the go-ahead for some key strategic sales in companies such as Air India, Bharat Petroleum Corporation (BPCL), Shipping Corporation, Container Corporation and IDBI Bank. The sales process of some is already at an advanced stage.
In the next financial year, the government budgeted £ 1.75 million of sales of interest in public sector enterprises and financial institutions, including 2 PSU banks and one insurance company.
Source: Telangana Today