What’s in news?
The Center is planning to sell parcels worth more than ₹600 crores of public sector undertakings via the e-bidding platform. Further, the government also aims to sell non-core assets worth ₹10000 crores through this platform.
About the PSU land sale:
The government is looking to push the sale of idle assets of PSUs. The sale will be managed by the Department of Investment and Public Asset Management (DIPAM).
The valuation and reserve price of assets are also fixed. The sale of assets will be done through the new e-bidding platform developed by state-run MSTC.
This is on the lines of the National Monetisation Pipeline, but this sale would only include non-core assets. Unlike the NMP, however, the ownership of assets will be transferred in the case of PSU land sale.
In the first phase land assets of BSNL, MTNL, BEML, and Shipping Corporation of India (SCIL) would be put on the block. The first sale will be of litigation-free assets.
DIPAM is also planning to set up a Special Purpose Vehicle (SPV) to sell litigation-marred land assets of public sector undertakings and government departments.
Source: The post is based on the article “Centre plans PSU land sale worth more than Rs 600 crore via e-bidding” published in Business Standard on 3rd September 2021.