Centre Approves Privatisation Of 26 Govt Companies: RTI

by GoNews Desk 3 years ago Views 39169

Centre Approves Privatisation Of 26 Govt Companies
In July, Finance Minister Nirmala Sitharaman had announced to sell stakes in several government companies. An RTI reply has revealed that the Centre is all set for disinvestment in 26 Public Sector Undertakings. According to a reply by the Finance Ministry, the move to sell stakes in PSUs has already been approved by the Union Cabinet, which comes against the backdrop of fierce opposition by Trade Unions and the Opposition. 

The Department of Investment and Public Asset Management has said in its reply that the government will either sell the entire 26 companies or sell some stake in it.

The PSUs that go under the hammer include Project and Development Limited, Engineering Projects India Limited, Pawan Hans Limited, BNR Company Limited, Central Electronics Limited, Air India, Cement Corporation India Limited, Indian Medicine and Pharmaceuticals Corporation Limited, Salem Steel Plant, Bhadravati Steel Plant, Durgapur Steel Plant, Ferro Scrap Corporation Limited, NDMC's Nagarnar Steel Plant, Bharat Earth Movers Limited, HLL Lifecare, Bharat Petroleum Corporation Limited, Shipping Corporation of India, Container Corporation of India Limited, Nilanchal Ispat Nigam Limited, Hindustan Prefab Limited, Bharat Pumps and Compressors Limited, Scooters India Limited, Hindustan Newsprint Limited, Karnataka Antibiotics and Pharmaceuticals Limited, Bengal Chemicals and Pharmaceuticals Limited, Hindustan Antibiotics Limited, Indian Tourism Development Corporation and Hindustan Fluorocarbon Limited.

Many trade unions have been opposing disinvestment since the beginning, saying that the government is trying to hide its economic failure by selling the nation's treasury. They allege that the government is putting the future of those working there in danger through disinvestment and threatening the reservation in government jobs.

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