The Finance Ministry will soon seek cabinet nod for textile, petrochemical, commerce CPSEs strategic sale. It is expected to send 3 Cabinet notes for inter-ministerial consultations in a week. The Cabinet notes identifies PSUs to be retained, strategic sale and closure. CCEA approval on the 3 cabinet notes is likely to be sought next month.
The Export Credit Guarantee Corporation of India likely to be retained as a PSU. MMTC, State Trading Corp of India, PEC Ltd are likely to be recommended for strategic sale. Handicrafts and Handlooms Export Corp, British India Corp, National Jute Manufacturers Corp are likely to be suggested for closure. National Jute Corp, Cotton Corp of India, Jute Corp of India are likely to be suggested for strategic sale. Hindustan Fluorocarbons Limited is likely to be suggested for closure. Hindustan Organic Chemicals, HIL (India) Ltd are likely to be suggested for strategic sale.
The Finance Ministry is likely to finalise PSUs in pharma, fertiliser sectors for strategic sale in June. It will soon start discussions to decide on Ministry of Urban Development PSUs for strategic sale. The Committee of group of officers including secretaries of Economic Affairs, DIPAM, DPE, NITI Aayog, line ministry will take the final decision.
India has over 300 central public sector undertakings. India approved the new public sector enterprises policy which allows 1-4 PSUs to continue in strategic sectors.
