Govt to invite financial bids for privatization of 5-6 PSUs

Govt to invite financial bids for privatization of 5-6 PSUs

Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey said the government will invite financial bids for privatization of five to six public sector undertakings (PSUs) in December-January and will close these transactions in the current financial year. Will give

After 19 years, five to six PSUs will be privatized this year, Pandey said at the Global Economic Policy Summit.

He said that BEML, Shipping Corporation of India (SCI), Pawan Hans, Central Electronics, Neelachal Ispat Nigam are the PSUs which the government wants to privatize this year.

Pandey said that the privatization of Bharat Petroleum Corporation Limited (BPCL) is in due diligence stage. Three bidders have reportedly shown interest in acquiring the oil marketing company.

“These are the transactions that we think can happen in December-January, and we may actually privatize them only during this year,” Pandey said.

He said that while there is a consultation process at the official and ministerial level to complete things expeditiously, the cabinet secretary also held a meeting to further simplify the process.

Pandey said that the government is also working on starting an initial public issue of Life Insurance Corporation of India (LIC) in January-March. He said that this IPO will be a big event for the markets.

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