By Our Correspondent
NEW DELHI/BHUBANESWAR: While replying to BJD Rajya Sabha MP, Dr Sasmit Patra, Union Minister of State for Finance and Corporate Affairs, Anurag Thakur said the Government has taken decision for strategic disinvestment of the 5 Central Public Sector Enterprises (CPSEs)/Units /Subsidiaries in the Steel Sector.
The Minister Thakur said, CPSUs were Rastriya Ispat Nigam Limited(RINL),Neelachal Ispat Nigam Limited(NINL),NMDC Integrated Steel Plant(NISP), Nagarnar,Ferro Scrap Nigam Limited(FSNL) and Alloy Steel Plant, Durgapur; Visvesvaraya Iron and Steel Plant, Bhadravathi; Salem Steel Plant, Salem .
BJD MP Dr Patra had sought to know whether Government is planning to sell large tranches of equity stakes of Steel PSUs in India to private players; and if so, the steps being taken in this direction?, replying to it, Minister Thakur said the Government has recently introduced a New Public Sector Enterprise(PSE) Policy for Atmanirbhar Bharat notified on 4th February, 2021 applicable toCentral Public Sector Enterprises (CPSEs), Public Sector Banks (PSBs) and PublicSector Insurance Companies (PSICs). As per this policy, existing Public Sector
Commercial Enterprises (except those specifically exempted) have been broadly classified under Strategic and Non-strategic Sectors.
It has also been laid down that in strategic sectors, bare minimum presence of the existing public sector commercial enterprises at Holding Company level will be retained under Government control. The remaining enterprises in strategic sector will be considered for privatisation or merger or subsidiarization with another CPSE or for closure. Public Sector
Commercial Enterprises in non-strategic sectors shall be considered for privatisation, where feasible, otherwise such enterprises shall be considered for closure. Steel manufacturing is in the non-strategic sector.
In-principle approval from the Cabinet Committee on Economic Affairs (CCEA) for a specific Public Sector Undertaking (PSU) for strategic disinvestment will be required on a case-to-case basis. The timing for specific transaction will, however, be contingent, inter-alia, on the considerations of appropriate sequencing, sectoral trends, administrative feasibility, investor’s interest etc, the Minister added.
