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Finance Ministry To Set Timelines For Sale Of CPSEs
May 14, 2019
The finance ministry is reworking its strategic sale procedure to ensure the outright sale of Central public sector enterprises (CPSEs). The sale policy is already in place, but the procedure needs to be streamlined for completion and will entail 4 months for smaller CPSEs and would extend to 6-months for larger CPSEs. The companies which have shortlisted for strategic sale include Air India, Air India subsidiary AIATSL, BEML, Scooters India, Bharat Pumps Compressors, and Bhadrawati, Salem and Durgapur units of steel major SAIL.
The other CPSEs for which approvals are in place for outright sale include Hindustan Fluorocarbon, Hindustan Newsprint, HLL Life Care, Central Electronics, Bridge & Roof India, Nagarnar Steel plant of NMDC and units of Cement Corporation of India and ITDC.
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