Financial Express reported that Steel Authority of India Limited is likely to feature on the initial list of firms for privatisation, as the Indian government embarks on the path of privatising or closing down all central public sector undertakings in the non strategic sectors in a phased manner. Indian government’s 65% stake in SAIL is worth about INR 29,600 crore at the current market prices. SAIL owns five integrated steel plants at Asansol, Bhilai, Bokaro, Durgapur and Rourkela. It has also three special steel plants along with a ferroalloy plant. India’s Finance Minister Ms Nirmala Sitharaman, while unveiling the Strategic Disinvestment Policy in Budget in February 2021 had said that Atomic energy, Space and Defence; Transport and Telecommunications; Power, Petroleum, Coal and other minerals; and Banking, Insurance and financial services would be strategic sectors with bare minimum presence of the public sector enterprises. The remaining central public sector undertakings in the strategic sectors will be privatised or merged or subsidiarized with other central public sector undertakings or closed. In non strategic sectors, central public sector undertakings will be privatised or closed. There are about 150 central public sector undertakings in the non strategic sector.After the recent shifting of the Department of Public Enterprises from the Ministry of Heavy Industries & Public Enterprises to the Ministry of Finance, the government has made Finance Ministry’s Department of Investment and Public Asset Management nodal department for selection of central public sector undertakings in the non-strategic sphere for privatisation or closure.
Financial Express reported that Steel Authority of India Limited is likely to feature on the initial list of firms for privatisation, as the Indian government embarks on the path of privatising or closing down all central public sector undertakings in the non strategic sectors in a phased manner. Indian government’s 65% stake in SAIL is worth about INR 29,600 crore at the current market prices. SAIL owns five integrated steel plants at Asansol, Bhilai, Bokaro, Durgapur and Rourkela. It has also three special steel plants along with a ferroalloy plant. India’s Finance Minister Ms Nirmala Sitharaman, while unveiling the Strategic Disinvestment Policy in Budget in February 2021 had said that Atomic energy, Space and Defence; Transport and Telecommunications; Power, Petroleum, Coal and other minerals; and Banking, Insurance and financial services would be strategic sectors with bare minimum presence of the public sector enterprises. The remaining central public sector undertakings in the strategic sectors will be privatised or merged or subsidiarized with other central public sector undertakings or closed. In non strategic sectors, central public sector undertakings will be privatised or closed. There are about 150 central public sector undertakings in the non strategic sector.After the recent shifting of the Department of Public Enterprises from the Ministry of Heavy Industries & Public Enterprises to the Ministry of Finance, the government has made Finance Ministry’s Department of Investment and Public Asset Management nodal department for selection of central public sector undertakings in the non-strategic sphere for privatisation or closure.
