Govt. Eyes Rs 3 Lakh Crore From Sale Of Assets from PSUs
The government at the centre is eyeing for collection of a huge amount of Rs 3 lakh crore worth assets in its possession that can be monetized. These assets include power transmission lines, gas pipelines, telecom towers, airports.
As per the NITI Aayog to draw up a list of these assets. Many of these assets are owned by public sector enterprises, or Central PSEs like PowerGrid Corporation and BSNL. The gas pipelines of Gail India Ltd., another CPSE, can be sold.
Besides, these tangible assets, there are companies like National Textile Corporation, Hindustan Antibiotics and National Thermal Power Corporation which have large tracts of real estate in their possession that could be sold and added to the government’s coffers.
The government is thinking to monetise by selling the assets of CPSEs excess real estate, which is in their possession and to use the amounts to launch fresh ventures. If the funds could not use in proper way, then these funds will automatically be transferred to the government treasury. The report says, there are some assets like the tower infrastructure of BSNL or the oil pipelines of GAIL can even be leased out instead of selling them outright.
The Finance Minister Nirmala Sitharaman had, in her budget speech in July, indicated that the government has set for itself a target of Rs 1,05,000 crore as income from disinvestment in public enterprises. The department of investment and public asset management (DIPAM), will be the nodal agency to steer these initiatives and has asked companies to submit their expressions of interest. Boston Consulting Group, Cushman & Wakefield and Colliers International are entities that are said to have sent in their expressions of interest, as per the report.