By NIMY Sara Joy
NEW DELHI, India: The New Divestment Policy to tender six loss-making PSUs to private sectors for time of 99 years is on lease.
The country’s largest advisory body, Planning Commission of India proposed to government to transfer the loss-making PSUs to private zone under lease, rehabilitate and operate model. The new policy aims to make an easy way to build the firm attractive for buyers.
The projected companies may be HMT, Hindustan Fertilizer, Scooters India, Hindustan Cables, Triveni Structurals and NEPA. The proposal, to lease out, will form part of the governments’ divestment policy under which it has already tied up a plan for profit-making sectors. The government will soon assign consultants for valuation of these firms as they have bound assets like machinery and land bank.
Under the accessible customs, government has to stick on at least 51% undertaking in companies.
According to Ravi Kumar, ex-chairman of capital goods maker Bhel, the proposal to help private zones to make benefit on the lease. “We have played a major role in the revival of HEC, Ranchi. Some of these PSUs have great assets in terms of strategic location and land bank, which can be advantageous for bidders,” he told.
