Page 5 - Cpses

Disinvestment: Govt addresses CPSE stakeholders' concerns, says FM

The government addresses legitimate concerns of employees and other stakeholders of CPSEs through appropriate provisions in the share purchase agreements with bidders at the time of disinvestment, Finance Minister Nirmala Sitharaman said on Monday. On January 27, the Cabinet Committee of Economic Affairs (CCEA) gave 'in-principle' approval for 100 per cent disinvestment of the government's stake in Rashtriya Ispat Nigam Ltd (RINL), also called Visakhapatnam Steel Plant or Vizag Steel. This will be along with RINL's stake in its subsidiaries/ joint ventures through strategic disinvestment by way of privatisation. Sitharaman said strategic disinvestment of the government's equity will lead to infusion of capital for optimum utilisation, expansion of capacity, infusion of technology and better management practices. This will result in higher production and productivity and expansion of direct and indirect employment opportunities. "While deciding the terms and conditions of the strateg

A bold move

Policy on strategic disinvestment is a huge break from the past

Govt mops up Rs 19,499 cr from CPSE disinvestment, buyback so far in FY21

The government has garnered Rs 19,499 crore through CPSE disinvestment and share buyback so far in 2020-21, as against the Rs 2.10 trn budget target set for the entire fiscal year ending March 31

Planning for non-core asset sale, govt dividend now mandatory for PSUs

Listed public sector firms will have to maintain their m-cap at a certain level

Introspect reasons for low market valuation: DIPAM secy to state-owned cos

Tuhin Kumar Pandey urges CPSEs to constantly engage with investors in a bid to yield better share prices

Addl installment of DA for CPSE execs, non-unionised supervisors frozen

Further, the additional instalments of the DA due from January 1, 2021, and April 1, 2021, will also not be paid

Govt asks CPSEs for quarterly dividend payouts, higher share of profits

DIPAM has prepared a 'consistent' dividend policy for state-owned firms to follow

Top headlines: Govt asks CPSEs for larger share, economy on revival path

From Centre asking CPSEs to pay dividends on quarterly basis to RBI policymakers sparring over high inflation forecast, Business Standard brings you the top headlines of the day

Cabinet to consider new public sector enterprises policy soon: DEA Secy

Under the policy, a list of strategic sectors will be notified where there will be at least one and a maximum of four public sector enterprise, apart from private sector companies

FM asks 14 CPSEs to spend 75% of Rs 1.15 trillion capex by December end

Govt looks to sustain pace of capital and infra projects to soften economic blow; Till H1 of FY21, these PSUs spent Rs 37,423 cr, or just 32%. In FY20, they spent Rs 1.16 trn or 104% of capex goal

FM holds 4th review meeting on capex of Central Public Sector Enterprises

While reviewing the performance of CPSEs, Sitharaman said CAPEX by CPSEs is a critical driver of economic growth and need to be scaled up for the FYs 2020-21 & 2021-22.

Top headlines: Farmer survey on agri laws; CPSEs told to spend 75% of capex

Business Standard brings you the top headlines of the day

PSEs back to 90% of their production capacity: Prakash Javadekar

Central PSEs have got back to 90 per cent of their production capacity, Union Minister Prakash Javadekar said, while releasing a compendium on the contribution of the PSEs amidst Covid-19

20 CPSEs, their units in pipeline for strategic sale: Finance Ministry

As many as 20 CPSEs and their units are at various stages of strategic disinvestment, while six are being considered for closure or are under litigation, Minister of State for Finance Anurag Singh Thakur said on Monday. In a written reply to a question in the Lok Sabha, Singh said the government follows a policy of disinvestment through strategic stake sale and minority stake dilution. "Based on the criteria laid down by NITI Aayog, the Government has 'in principle' approved strategic disinvestment in 34 cases since 2016, out of which strategic disinvestment in 8 cases has been completed, 6 CPSEs are under consideration for closure and litigation, and remaining 20 transactions are at various stages," Singh said. The CPSEs which are under consideration for closure/ under litigation are Hindustan Fluorocarbon Ltd (HFL), Scooters India, Bharat Pumps & Compressors Ltd, Hindustan Prefab, Hindustan Newsprint, and Karnataka Antibiotics & Pharmaceuticals Ltd. The transactions which ...

FM Nirmala Sitharaman asks seven CPSEs to spend 50% capex in H1

This is because the government looks to maintain the pace of capital and infrastructure projects in a bid to soften the economic blow from the Covid-19 pandemic

Sitharaman pushes large CPSEs to meet half of FY21 capex target by Sept

She held a virtual meeting with secretaries of the ministries of shipping, road transport and highways, housing and urban affairs, defence and telecom, an official statement said

FM Sitharaman holds second review meet on capex spending of CPSEs

The combined capex target for these 7 CPSEs is Rs 24,663 crore for for FY 2020-21

The missing policy

Decision on public sector enterprises should not be delayed

PSU stocks in focus; ITI surges 20%, BHEL gains 15%, Coal India up 8%

MSTC, MMTC, Hindustan Copper, Bharat Electronics, Ircon International, NLC India, Engineers India, BEML, STC India, NBCC, Mishra Dhatu Nigam and Container Corporation were up 4% to 8% on the BSE

Covid-19 crisis: Govt wants PSUs to ramp up dividends, share buybacks

With Covid-19 set to hit FY21 revenue mop-up, Centre looks for options