The Union government is making up its mind on the closure of central public sector units (PSUs) even when they have been approved for strategic disinvestment on a case-to-case basis.
Minister of State for Finance Anurag Thakur said in Lok Sabha that the government is following a policy of closure of centre public sector enterprises (CPSEs) even in cases earlier approved for strategic disinvestment on a case to case basis but with a guideline based addressal of concerns regarding the employees and assets.
The minister further informed the house that the government has given ‘in-principle’ approval for strategic disinvestment of 34 CPSEs, including subsidiaries and units of CPSEs, several of which are loss making and sick units and may be recommended for closure.
In certain other CPSEs, policy of minority stake sale without transfer of management control through various SEBI approved methods is being followed in order to unlock the value, promote public ownership and higher degree of accountability.
The government is in the process of formulating and announcing a new strategic disinvestment policy and according to our sources, the Cabinet may soon take up and approve the new strategic disinvestment policy, which will also encompass the banking and insurance sectors.
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