Page 9 - Psus

5,400 acres of land parcels of PSUs may be monetised through new SPV

These would be land of state-owned units under divestment and those that the Centre has decided to shut

Strategic support

Sebi's proposal will help disinvestment

Jharkhand CM warns of shutting coal mines over non-payment of dues by PSUs

Jharkhand Chief Minister Hemant Soren has warned the coal companies of putting barricades around coal mines if due payment of worth Rs 1.36 lakh crore is not cleared to the state by Central PSUs."We have demanded payment of Rs 1.36 lakh crore (dues) to the state from the coal companies, and we will take it, this is State's right otherwise we will put barricades around coal mineral resources," the Chief Minister said in his speech in the Legislative Assembly on Friday.Soren had raised the issue of non-payment of dues by coal companies to the Centre in a letter to Union Coal and Mines Minister Pralhad Joshi dated March 2, 2022."Inspite of repeated consultations held with @CoalMinistry & @NITIAayogregarding non payment of long standing legitimate dues of Rs 1.36 lakh crores related to mining done by Central PSUs, Govt of India has paid no heed so far. I have written to @JoshiPralhad ji in this regard", tweeted Soren on Saturday.Noting that Jharkhand is a mineral-rich state and that

BS Views of the week: Blow to globalisation, risks of imported energy, and more

Developments around the Russia-Ukraine war and elections in five states of India made the biggest news headlines in the week gone by. Besides these, Business Standard's opinion pages focused on risks of imported energy, poverty landscape, and a lot more

The burden of govt equity in PSUs

The Modi govt has outdone the Manmohan Singh regime in ramping up infrastructure outlay for state-controlled units

FY23 capital outlay plan for CPSEs projected to dip 1.21% year-on-year

Govt to shift part of CPSEs debt to itself as it infuses more equity

PM Modi didn't create single PSU, privatised 23: Congress MP in RS

Congress's MP Ripun Bora in Rajya Sabha on Thursday attacked Prime Minister Narendra Modi, saying that he did not create a single Public Sector Undertaking (PSU) while he privatised 23

Budget bets big on public infra: Subsidy bill falls as Covid concern eases

FM slashes Customs exemptions again, this time on capital goods

Win-win deal: Why Air India privatisation has drawn little to no criticism

That such a deal can be greeted with celebration in the camps of both buyer and seller speaks volumes about the airline and its recent history, writes T N Ninan

Union Budget 2022: Key measures govt must take to address demand-side issue

The country's annual financial exercise this year, comes at a juncture when the outlook on both, global and domestic growth is uncertain in the context of the pandemic trajectory

PSUs rush to raise offshore debt for ongoing projects, retiring older loans

REC to raise $1.1 bn, NTPC and IRFC are raising $1.75 bn; Private sector companies led by Reliance Industries are also tapping international bond markets to raise funds

Govt firms asked to declare market value of land, other real estate assets

Measure seen as a bid to boost investor confidence in PSUs stocks

Valuation question holds up SPV for land, asset monetisation of PSUs

The government is still finalising the valuation at which such assets will be transferred to the SPV.

PSUs borrowing to buy equity of another firm defeats purpose: CAG

Due to poor financial condition, it said, ChPT had to raise a loan of Rs 1,775 crore at a rate of interest of 8 per cent per annum for purchasing the GoI's stake in KPL

CAG raps Bihar govt for its financial help to defaulting govt companies

These PSUs have not finalised their accounts for the last one to 43 years in violation of provisions of the Companies Act/Acts of the respective Statutory Corporations/Public Sector Undertakings

Centre set to rejig privatisation process for non-strategic sectors

Companies in non-strategic sectors would be considered for privatisation, wherever feasible, or else they would be closed

HAL to manufacture first four light utility helicopters by 2022-23: Govt

Out of the initial quota of four choppers, two each will go to the Indian Army and the Indian Air Force

What govt U-Turn on IRCTC means for minority shareholders in other PSUs

After negative market reaction, the govt recently made a U-turn on its decision to take away the revenue IRCTC earns from convenience fee. Now what does it mean for investors of PSU stocks?

Must consider shareholder interests: DIPAM secretary Tuhin Kanta Pandey

'DIPAM has been advising ministries to carefully evaluate any policy changes which play a larger part in the functioning of PSUs', said Pandey

Govt appoints seven executive directors for public sector banks

Many of these executives, in their early 50s, who stand to serve a full five-year term, will be eligible for extension