Cabinet approves strategic disinvestment of CPSEs

The Cabinet Committee on Economic Affairs has accorded 'In-principle' approval for strategic disinvestment in select CPSEs

The Cabinet Committee on Economic Affairs yesterday, 20 November 2019 accorded 'In-principle' approval for strategic disinvestment in CPSEs. This includes strategic disinvestment of Government of India shareholding of 53.29% in Bharat Petroleum Corporation Ltd (except its equity shareholding of 61.65% in Numaligarh Refinery Limited (NRL) and management control thereon) along with transfer of management control to a strategic buyer.

For strategic disinvestment of BPCL's shareholding of 61.65% in NRL along with transfer of management control to a Central Public Sector Enterprise (CPSE) operating in the Oil and Gas Sector.

Strategic disinvestment of Government of India shareholding of 63.75% in Shipping Corporation of India along with transfer of management control to a strategic buyer.

Strategic disinvestment of Government of India shareholding in Container Corporation of India of 30.8% (out of 54.8% equity presently held by the Government of India) along with transfer of management control to a strategic buyer.

The Cabinet also approved strategic disinvestment of Government of India shareholding of 74.23% in Tehri Hydro Development Corporation India (THDCIL) along with transfer of management control to an identified CPSE strategic buyer, namely, NTPC.

Strategic disinvestment of Government of India shareholding of 100% in North Eastern Electric Power Corporation Limited (NEEPCO) along with transfer of management control to an identified CPSE strategic buyer, namely, NTPC.

Strategic disinvestment of CPSEs will be undertaken through already established procedure and mechanism. The resources unlocked by the strategic disinvestment of these CPSEs would be used to finance the social sector/developmental programmes of the Government benefiting the public.

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