PSU stake sale,Strategic stake sale,NITI Aayogstrategic sale,PSU shares,PSU share sale,PM Narendra Modi,Arun Jaitley

Cabinet Gives In-Principle Nod For Strategic Sale Of PSUs

Cabinet Gives In-Principle Nod For Strategic Sale Of PSUs

The Union cabinet on Thursday gave in-precept approval to NITI Aaron’s inspiration for strategic sale in over a dozen public sector undertakings (PSUs) including those that are making earnings.

Speak to news hounds after the cupboard meeting, chaired by way of top Minister Narendra Modi, Finance Minister Arun Jaitley mentioned the names of PSUs that are up for strategic stake sale can be made public as soon as they’re going to be put up for the auction.

“The suggestions of the NITI Aayog with regard to both disinvestment and strategic sale came up for consideration. In precept the cabinet has accredited the recommendations with regard to some of the items,” the minister said.

Each case could be viewed separately after it has been examined by way of the department of Disinvestment and the ministries concerned, he said.

“So in principle, it has been authorized. Particular instances would now come up after a distinctive examination as to how it is to be finished in each case and the main points with regard to the items worried will be furnished at that stage. This list does now not include PSUs for closure,” he said.

The strategic sale will involve an administration manage switch because the shareholding of the federal government would come down to under 50 per cent.

“a few of these are fundamental items and accordingly considering the fact that each and every unit could be regarded in its own benefit, the timing of that may be made up our minds via the government for this reason,” he stated.

In regards to a valuation of those PSUs, he stated there are settled valuation methods and an obvious one can be adopted.

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