Biggest Sale of Public Assets

 

Report by KEC correspondent

Since 2015-16, the government has approved the strategic disinvestment of as many as 35 public sector companies or plants of public sector companies owned by the central government.

Since 2015-16, the government has approved the strategic disinvestment of as many as 35 public sector companies or plants of public sector companies owned by the central government. The strategic disinvestment means complete sale of government shares or sale of majority of shares owned by the government and the transfer of management control to a private company.
Of these, 4 companies will be closed as they could not be sold. The sale of 8 companies has already been completed. The sale of 2 companies is held up due to legal disputes. The sale of the remaining 21 is at various stages and is being pursued vigorously. These details were given by the Minister of State of Finance in the reply to a question in Rajya Sabha. The list of companies is given at the end.
Privatisation on such a large scale has never been carried out in the country. Besides affecting tens of thousands of workers of these PSUs, over 50 crore toilers of the country will be directly or indirectly affected by the privatisation of these PSUs.

List of public sector companies/units to be completely privatised/closed/already sold
(A) Sale in progress
1. a) Bharat Petroleum Corporation Ltd (except Numaligarh Refinery Limited) (52.98%)
b) BPCL shares in Numaligarh Refinery Limited (NRL) to a CPSE strategic buyer
[The sale of NRL has been completed].
2. Air India Limited (100%)
3. The Shipping Corporation of India Limited (63.75%)
4. Container Corporation of India Limited (30.80%)
5. BEML Limited (26%)
6. Pawan Hans Limited (51%)
7. Neelachal Ispat Nigam limited (93.71%)
8. Project & Development India Limited (100%)
9. Engineering Project (India) Limited (100%)
10. Bridge and Roof Co. India Limited (100%)
11. Units of Cement Corporation of India Limited Units sale
12. Central Electronics Limited (100%)
13. Ferro Scrap Nigam Limited (subsidiary) (100%)
14. Nagarnar Steel Plant of NMDC Limited Unit sale
15. Alloy Steel Plant, Durgapur; Salem Steel Plant; Bhadrawati Steel Plant – units of Steel Authority of India Limited Units sale
16. HLL Lifecare Limited (100%)
17. Indian Medicines Pharmaceuticals Corporation Limited (98.11%)
18. Various Units of India Tourism Development Corporation Limited Units sale
19. Hindustan Antibiotics Limited (100%)
20. Bengal Chemicals & Pharmaceuticals Limited (100%)
21. Rashtriya Ispat Nigam Ltd. (100%)
[Figures in bracket are % shares of government to be sold]
B) Companies approved for closure
22. Hindustan Fluorocarbons Limited (subsidiary)
23. Scooters India Limited*
24. Bharat Pumps & Compressors Limited
C) Company proposed for closure
25. Hindustan Prefab Limited
D) Sale held up due to legal dispute
26. Hindustan Newsprint Limited (subsidiary)
27. Karnataka Antibiotics & Pharmaceuticals Limited
E) Sale Completed
28. Hindustan Petroleum Corporation Limited
29. Rural Electrification Corporation Limited
30. HSCC (India) Limited
31. National Projects construction corporation Limited
32. Dredging Corporation of India Limited
33. THDC India Limited
34. North Eastern Electric Power Corporation Limited
35. Kamrajar Port Limited

 

 

Subscribe
Notify of
guest
1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
DINESH
DINESH
8 months ago

Excellent compilation of various sector’s information it will definitely help workers to understand more. Thank you AIFAP