Govt prepares guidelines to hive off CPSEs' non-core biz

The Finance Ministry is drafting a framework for ministries and departments which they would follow while selling non-core assets of CPSEs, an official said.

The 'Asset Monetisation Framework', which is being drafted by the Department of Investment and Public Asset Management (DIPAM), will help the administrative ministries to fast track hiving off and sale of non-core assets of central public sector enterprises (CPSEs) under their administrative control.

"The framework will act as broad guidelines for the ministries to identify non-core assets and proceed with their sale process in an efficient and transparent manner," the official said.

To start with, DIPAM, after consulting ministries and CPSEs, has already identified huge tract of land and other assets of nine stateowned companies which will be hived off before they are put on the block for strategic sale. The sale process of these assets has to be taken forward by the concerned administrative ministries, the official said. The nine CPSEs whose non-core assets have been identified for hiving off are Pawan Hans, Scooters India, Air India, Bharat Pumps & Compressors, Project & Development India (PDIL), Hindustan Prefab, Hindustan Newsprint, Bridge and Roof Co and Hindustan Fluorocarbons. Most of the assets identified for separate disposal are land parcels and residential flats owned by the CPSEs.