Land parcels of pharma PSUs find no takers, but momentum likely in few mths

In December 2019 the decision was revised to allow sale of land to private entities as well through a competitive bidding process

Company, PSUs, valuation, firms
Premium

In December 2016 the government had identified four pharma PSUs for sale of surplus land and eventual closure or strategic sale (Illustration: Binay Sinha)

Sohini Das Mumbai
There are no easy takers for land parcels of pharmaceutical (pharma) public sector undertakings (PSUs) after the process was set into motion in 2016. However, independent valuation of land parcels is now being done, and PSU sources indicate that the process of sale may gather momentum in the months to come.

Initially, the bidding was restricted to government agencies, and several tenders issued by PSUs for sale of surplus land did not find any takers.

“Since land could not be sold, the liabilities of PSUs could not be met and no progress made in respect of their closure or strategic

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 21 2022 | 9:24 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com