Page 13 - Psus

PM Modi on how govt will use funds from privatisation, asset monetisation

Prime Minister Narendra Modi on February 25 made a strong case for privatisation of public sector undertakings that he said burdened the taxpayer, and stressed that the government has “no business to be in business”. He said his regime has set a target to monetise 100 PSUs in oil, gas, airports, ports, power, among other areas, which will draw Rs 2.5 trillion of investment. Watch the video for PM Modi’s full speech.

Plan to monetise 100 public sector assets, drawing Rs 2.5 trillion: PM

Says government has no business to be in business; 'Our mantra is monetise and modernise'

PM Modi says govt committed to selling non-strategic PSUs

Modi on Wednesday made his strongest pitch for privatisation of non-strategic PSUs

Centre likely to go Canada way to set up SPV for land monetisation

Over the years, PSUs have been unsuccessful in selling their land assets due to pending litigation and lease terms

New PSEs policy envisages at most 4 PSUs in strategic sectors: DPE Secy

The new public sector enterprises policy envisages that the strategic sectors have limited number of players restricting it to maximum four public sector enterprises of the holding nature

Govt received Rs 36,709 cr dividend from 100 PSUs in 2018-19: CAG report

It further said 13 government companies under the Ministry of Petroleum and Natural Gas contributed Rs 29,272 crore, representing 40.74 per cent of the total dividend declared by all government firms

Govt has decided to shut 2 pharma PSUs, disinvest other 3: Govt tells LS

The government has decided to close two pharma public sector undertakings and disinvest the other three, Parliament was informed on Tuesday. "The Department of Pharmaceuticals has five public sector undertakings (PSUs). Out of the five PSUs, the government has taken a decision to close two pharma PSUs, namely Indian Drugs & Pharmaceuticals Ltd (IDPL) and Rajasthan Drugs & Pharmaceuticals Ltd (RDPL)," Minister ofChemicals and Fertilisers D V Sadananda Gowda said in response to a question in the Lok Sabha. The government has also decided to strategically disinvestthe other three -- Hindustan Antibiotics Ltd (HAL), Bengal Chemicals & Pharmaceuticals Ltd (BCPL), and Karnataka Antibiotics & Pharmaceutical Ltd (KAPL), he added. The government has offered voluntary retirement benefits to allemployees of IDPL and RDPL, Gowda said. "However, the Committeeof Ministers constituted on September 9, 2019, will take necessary decisions pertaining toclosure/strategic sale of the ...

Power engineers, employees stage nationwide protest against privatisation

Power engineers and discom employees demanded to scrap the process to privatise discoms in states and Union territories

Budget 2021: Bad bank will be a win-win for lenders, says Debasish Panda

All banks are eligible for privatisation. A committee of secretaries will decide which banks will be privatised, said Panda

Govt will reserve up to 10% in LIC's IPO for policyholders: DIPAM Secretary

Provisions have been added in the LIC Act to provide some reservation to policyholders as shareholders, said DIPAM secretary Tuhin Kanta Pandey

Budget 2021: Govt sets divestment target of Rs 1.75 trillion For FY22

The government on Monday budgeted Rs 1.75 trillion from stake sale in public sector companies and financial institutions, including 2 PSU banks and one insurance company, in the next fiscal year

Stock-specific approach to investing in PSUs will yield returns: Experts

Attractive valuations not enough to be positive on the entire sector, say experts

Govt missing the perfect opportunity for PSU privatisation: Experts

Say Centre should push PSU share sale as markets hit record high

Budget Byte: Bad year for PSUs may impact dividend payout to govt

Though the stock market touched new highs in 2020, the PSU index was late to the party, and has barely recovered to January 2020 levels

Power engineers to protest on Feb 3 against privatisation of discoms

Power sector engineers would go for token work boycott across the country on February 3 to protest against the move to privatise distribution companies by the central government, the All India Power Engineers' Federation (AIPEF) said on Monday. "Power engineers across the country shall resort to token work boycott and hold protest meetings on 3rd February against privatization policies of the Government of India," AIPEF spokesperson V K Gupta said in a statement. Shailendra Dubey, the Chairman of AIPEF, in a letter to the Prime Minister, stated that power engineers and engineers are grieved over the central government's move towards the power sector privatisation through Electricity (Amendment) Bill, 2020, & Standard Bidding Document for total privatisation of distribution of electricity. Power engineers are opposing conversion of public monopoly to private monopoly, he said, adding that the policy of privatisation was slowly destroying the public sector across the country .

Gas distribution giant GAIL announces Rs 1,046.35 cr share buyback

GAIL looks to return surplus cash to shareholders, the biggest being the government of India

Prioritise spending, boost infra, sell PSUs: Raghuram Rajan on Budget

Former RBI Governor Raghuram Rajan says the government should take advantage of the peaks in the Indian equity markets right now and sell stakes in PSUs

Banking on Budget: Keeping an eye out for growth focus, PSU reforms

While the govt should try to push divestments, it should understand that reforms in the PSU space are very important if it wants to offload some its stake in the market

Cabinet likely to take up policy for PSU privatisation this month

The Public Sector Enterprises policy would include broad contours of the government's plans for privatisation.

Complete probe in corruption cases by May 2021: CVC to govt depts, PSUs

CVC has asked all central government departments, public sector banks, insurance companies and undertakings to complete the probe in pending corruption cases