World Bank to advise DIPAM on monetising non-core assets, enemy property

DIPAM is mandated with facilitating monetisation of non-core assets of the public sector units under strategic disinvestment or closure, and enemy property of Rs 100 crore and above

The World Bank will provide advisory services for asset monetisation to the Department of Investment and Public Asset Management (DIPAM) to shore up revenues of the union government.

 

DIPAM has signed an agreement with World Bank on Monday to this effect. DIPAM is mandated with facilitating monetization of non-core assets of the public sector units under the strategic disinvestment or closure and enemy property of Rs 100 crore and above.

 

 In the wake of the India-Pakistan wars of 1965 and 1971, there was migration of people from India to Pakistan.

 

Under the Defence of India Rules framed under The Defence of India Act, 1962, the Centre took over the properties and companies of those who took Pakistani nationality which is referred as enemy property.