)
The Finance Ministry's disinvestment department is likely to ask other central government ministries and departments to prepare a list of assets, including companies, factories, warehouses and office buildings, among others, which are no longer viable and can be sold off, Business Standard has learnt.
Such asset divestments will be part of the centre's 2015-16 strategic stake sales target. The overall budgeted disinvestment target for the year is Rs 69,500 crore, of which Rs 41,000 crore is expected to be raked in from 5-15 per cent stake sales in listed Public Sector Undertakings (PSUs), while Rs 28,500 crore is to be raised from strategic stake sales.
Senior government sources said that, essentially, other ministries will be requested to follow the Tourism Ministry's example. The latter has identified eight loss making hotels operated by the India Tourism Development Corporation (ITDC) which can be sold off this year. A cabinet note regarding the same is expected to be moved soon.
The assets which the various ministries could identify are likely to include companies which are a part of the 'sick PSU' list.
The latest list of 65 floundering PSUs was tabled In Parliament by Heavy Industries Minister Anand Geete In the budget session and includes companies like Air India, Fertilizer Corporation of India, Hindustan Shipyard, HMT, Mahanagar Telephone Nigam Ltd, Bharat Coking Coal and ITI. Apart from PSUs, the ministries will also be told to identify any asset which can be monetized, including warehouses, guesthouses, office buildings and factories.
The latest list of 65 floundering PSUs was tabled In Parliament by Heavy Industries Minister Anand Geete In the budget session and includes companies like Air India, Fertilizer Corporation of India, Hindustan Shipyard, HMT, Mahanagar Telephone Nigam Ltd, Bharat Coking Coal and ITI. Apart from PSUs, the ministries will also be told to identify any asset which can be monetized, including warehouses, guesthouses, office buildings and factories.
"Basically, anything which is unviable and can be sold. This matter is in the initial stages and it all depends upon when the disinvestment department gets such lists from various ministries once they are told to prepare the same. Such a notification will be sent soon," said a senior government official who did not wish to be identified. The official did not clarify whether there is a deadline for ministries to prepare such lists,but did say that it may not be possible to sell all such assets in this financial year. The person added that the assets which can be sold will not include land banks.
