FinMin to seek Cabinet nod for setting up company to monetise land assets of privatisation-bound CPSEs

Asia's Tech News Daily

© Provided by Zee Business

The finance ministry will soon move the Cabinet to seek approval for setting up a company for transfer and subsequent monetisation of land and non-core assets of privatisation-bound CPSEs, an official said.

A special purpose vehicle (SPV) in the form of a company would be set up to hold these assets which would be monetised to fetch value to the exchequer, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said.

See Zee Business Live TV Streaming Below:

“We are talking about a company which will be there for many years, which will specialise in handling surplus land and non-core asset monetisation. We are expecting it shortly. As soon as we get Cabinet approval,” Pandey told PTI.

There are some CPSEs for strategic disinvestment and “we feel certain portion of land is not really worth going with the company and those assets could be monetised”, he said.

Post Cabinet nod, the Department of Public Enterprises (DPE), which is now under the Ministry of Finance, will be entrusted with doing the asset monetisation.

The government is targeting to conclude strategic sale of BPCL, Shipping Corporation of India, IDBI Bank, BEML, Pawan Hans, Neelachal Ispat Nigam Ltd, this fiscal.

In the 2021-22 Budget, the government announced the PSE (public sector enterprises) privatisation policy as per which all PSUs will be privatised, barring four strategic sectors of Atomic energy, Space and

Defence; Transport and Telecommunications; Power, Petroleum, Coal and other minerals; and Banking, Insurance and financial services.

In these strategic sectors, the government will retain only a bare minimum number of PSUs. 

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Davina McCall and dog, Bo, wear cute matching Christmas jumpers

Davina McCall took to Instagram to share a snap with her dog, as the pair wore adorable matching Christmas jumpers. © Samir Hussein – Getty Images Davina McCall shared an ... Read more »

Most Americans are concerned about omicron but won't cancel holiday travel, poll shows: Live COVID-19 updates

Less than two weeks after news of the omicron variant of the coronavirus spread worldwide, the vast majority of Americans have heard of it. While most are at least somewhat ... Read more »

When does Dragonite release in Pokémon UNITE?

© Provided by Dot Esports Pokémon UNITE is gearing up to celebrate the holiday season and there are a ton of massive additions being added to celebrate. The Holiday Festivities ... Read more »

A crude correction: Why Nalcor must return 1.3 million barrels of Hibernia South production

© CBC Newfoundland and Labrador’s energy corporation, Nalcor, owns a 10 per cent ownership interest in the Hibernia South project, which is an extension of the main Hibernia project. But ... Read more »

Hilda and Jesse: San Francisco police chief says restaurant's refusal of service to on-duty officers was upsetting and a disappointmentSan Francisco police chief calls restaurant's refusal of service for on-duty officers upsetting and a disappointment

San Francisco Police Chief William Scott said Tuesday that an incident last week when police officers were refused service at a local restaurant was “upsetting” and a disappointment. © Brontë ... Read more »

Olaf Scholz elected new chancellor by German lawmakers

© Provided by dw.com The campaign to elect Scholz played on his reputation as a safe pair of hands The German Bundestag elected Olaf Scholz as chancellor on Wednesday morning, ... Read more »

Prince William's favourite song is rather unexpected (and we're so here for it)

Photo credit: ©Karwai Tang – Getty Images During a new podcast episode in which he walks around the Queen’s Sandringham Estate, Prince William opened up about his rather unexpected taste ... Read more »

Drivers who splash puddles over pedestrians could be hit with £5,000 fine

MOTORISTS in the UK face a fine of up to £5,000 if they are caught driving through a puddle and splashing a pedestrian. You might think soaking a passerby is ... Read more »

China's Evergrande: How will a 'controlled demolition' impact the economy?

© Jade Gao Evergrande is a real estate giant with a presence in over 280 Chinese cities As Chinese real estate behemoth Evergrande reportedly prepares for a government-backed mega-restructure, here ... Read more »

China property developer debt default fears grow

© Reuters Evergrande’s founder Hui Ka Yan was once Asia’s richest person Concerns are growing over potential multi-million dollar debt defaults by two of China’s biggest property companies. Investors are ... Read more »

Horizon Forbidden West looks stunning in new PS5 gameplay and graphics showcase

© Provided by T3 Horizon Forbidden West running on PS5 There’s no doubting that Horizon Forbidden West is going to be one of the games to play on PS5 in ... Read more »

GTA 6 incoming? Leaker says Rockstar about to "make a big announcement"

© Provided by T3 GTA 6 In news that could potentially be a GTA 6 bombshell, a Twitter account who states that they are, “a reliable source covering all upcoming ... Read more »

Jonah Hill thought he'd offended Meryl Streep

© Bang Showbiz Jonah Hill called Meryl Streep ‘G.O.A.T.’ Jonah Hill was horrified to think he had accidentally offended Meryl Streep. The 37-year-old actor admitted it was an honour to ... Read more »

Pembelaan ‘derma Arab Saudi' hanya rekaan Najib, kata hakim

© Provided by Free Malaysia Today Mahkamah Rayuan mendapati pembelaan kononnya wang itu diterima daripada kerajaan Arab Saudi tidak dapat dipertahankan atas alasan sama dicapai hakim perbicaraan. PUTRAJAYA: Dakwaan Najib ... Read more »

Neuer Pick-up zeigt sich erstmals auch von innen - VW Amarok (2022)

Im Sommer 2019 vereinbarten die Autobauer Ford und VW unter anderem eine Kooperation im Nutzfahrzeug-Bereich. Auf Basis des Ford Ranger soll auch der nächste VW Amarok entstehen. Jetzt gibt es ... Read more »

Sonic the Hedgehog 2 excites fans with Tails announcement

Sonic the Hedgehog 2 has officially cast Colleen O’Shaughnessey as the voice of Tails. Directed by the returning Jeff Fowler, this animated/live-action hybrid welcomes back Ben Schwartz as the lightning-quick ... Read more »

TUI reports loss as Omicron trumps summer recovery

By Yadarisa Shabong and Zuzanna Szymanska © Reuters/Toby Melville FILE PHOTO: TUI sign is seen at the check-in area at Gatwick Airport, in Gatwick (Reuters) -TUI reported an operating loss ... Read more »

PH logs 370 new Covid-19 cases

© The Manila Times THE Philippines reported 370 new cases of the coronavirus disease 2019 (Covid-19) on Wednesday, according to the Department of Health (DoH). It is the second time ... Read more »

Michael A. Clemence of Rochester pleads guilty to child sex abuse images possession

CONCORD — Michael A Clemence, 36, of Rochester, pleaded guilty in federal court to possession of child pornography, acting New Hampshire U.S. Attorney John J. Farley announced Tuesday. The investigation ... Read more »

Around 1,000 properties without power after Storm Barra

Around 1,000 properties remain without power after Storm Barra swept across the country. The latest power cuts come just days after the final homes were reconnected following Storm Arwen, which ... Read more »

Ather Energy expands operations in Gujarat with new outlet in Surat

© Suvil Susvirkar Ather Energy expands operations in Gujarat with new outlet in Surat – This is the second Ather Space in Gujarat – Prices start from 1,07,916 onwards – ... Read more »

Max Biaggi Breaks Own Record of World's Fastest Electric Motorcycle in Under 300-Kg Class

© Provided by News18 Max Biaggi Breaks Own Record of World’s Fastest Electric Motorcycle in Under 300-Kg Class The fastest electric motorcycle Voxan Wattman claimed the new world record in ... Read more »

International Olympics Committee unable to give certainties amid concern for safety of Peng Shuai

© Provided by WION After five weeks of concern about the safety of tennis player Peng Shuai in China, the International Olympic Committee said it cannot give any certainties about ... Read more »

Timeline: How the Downing Street ‘party' row unfolded

Downing Street insists “there was no Christmas party” in relation to a staff gathering in December 2020 at which drink was consumed, festive jumpers were reportedly worn and gifts were ... Read more »

‘Rapid increase' in Omicron cases expected in Northern Ireland before Christmas

Northern Ireland’s chief medical officer has said he expects to see a “rapid increase” in cases of the Covid-19 Omicron variant before Christmas. Sir Michael McBride was speaking after the ... Read more »

‘New Year's will be happy times': Thailand says lockdown unlikely despite Omicron

Photo: Emporium Emquartier / Facebook The prime minister insisted there would be no return to lockdown despite the arrival of the latest coronavirus mutation to the kingdom. Junta chairmen-turned-PM Prayuth ... Read more »

Underinvestment in energy sector raises prospects of higher oil prices and volatility

© Nick Oxford Oil demand growth is expected to be robust across Africa, non-OECD countries in Asia and the Middle East in the coming years. Reuters Underinvestment in the hydrocarbons ... Read more »

Ending Merkel era, Scholz takes office as German chancellor

© Reuters/ANNEGRET HILSE German parliament Bundestag elects new chancellor, in Berlin By Michael Nienaber BERLIN (Reuters) – German lawmakers elected Social Democrat Olaf Scholz as new chancellor on Wednesday, ending ... Read more »

East Acton: Man jailed for 24 years for stabbing stranger in throat in unprovoked attack

© Google Maps AnkaraFoodandWine A man who stabbed someone in an unprovoked attack outside an off-licence in East Acton has been jailed for 24 years. Owen O’Driscoll, 29, knifed his ... Read more »

Omicron: January lockdown ‘cannot be ruled out' as cases doubling every two days and numbers highest in London

© PA Wire Coronavirus Cases of the Omicron Covid-19 variant are doubling every two to three days with London and Scotland at the epicentres of the spread, a leading epidemiologist ... Read more »

Man (40s) dies after crash in Co Tipperary

© Shutterstock A PEDESTRIAN IN his 40s has died after a collision involving a car in Co Tipperary. Gardaí responded to reports of a collision shortly after 10pm last night ... Read more »

Richard E Grant reveals his car was used to ram-raid Tesco Express while stuck in quarantine hotel

Richard E Grant has revealed his car has been stolen and used to ram-raid a Tesco Express while he is stuck in a quarantine hotel. © Dave Benett/Getty Images for ... Read more »

Jack Grealish 'anonymous' for Man City as struggles continue after Aston Villa exit

Jack Grealish’s struggles at Manchester City continued on Tuesday night. The former Aston Villa captain lined up alongside Kevin De Bruyne, Phil Foden and Co against RB Leipzig in the ... Read more »

Gio van Bronckhorst relishing Rangers challenge as he backs fringe men to make Lyon chance count

Upbeat Rangers boss Gio van Bronckhorst sees no downside to freshening up his starting XI for their final Europa League group stage clash with Lyon. The Ibrox side are into ... Read more »

Michael Owen makes Manchester United vs Young Boys score prediction

Michael Owen believes Ralf Rangnick will take Manchester United’s final Champions League group game seriously, tipping them to finish on a high. The pressure is off for United as they ... Read more »

Google Year in Search 2021: Cricket, Cowin and Tokyo Olympics among top searches in India

© Provided by The Indian Express Google India today announced the results for its Year in Search 2021, recapping the top search trends of 2021 in India. The listing reveals ... Read more »

Rain, lava from Indonesian volcano hamper search for missing

The Associated PressThe crater of Mount Semeru glows from hot lava in Lumajang, East Java, Indonesia, early Wednesday, Dec. 8, 2021. The 3,676-meter (12,060-foot) volcano erupted on Saturday killing a ... Read more »

Facebook broadens ban on military-linked Myanmar companies

FILE – This March 29, 2018, file photo shows the Facebook logo on screens at the Nasdaq MarketSite, in New York’s Times Square. Facebook’s parent company Meta announced Wednesday, Dec. ... Read more »

The sensational six! These batsmen scored double tons in ODIs

© Provided by Mid-Day Virender Sehwag created history ten years ago on this day when he became only the second cricketer to score a double century in ODIs – the ... Read more »

UP Assembly polls 2022: Priyanka Gandhi Vadra releases 'women's manifesto' in Lucknow

© Provided by The Statesman UP Assembly polls 2022: Priyanka Gandhi Vadra releases ‘women’s manifesto’ in Lucknow Ahead of the 2022 Uttar Pradesh Assembly elections, Congress General secretary Priyanka Gandhi ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic