Currently, the government’s stake in BHEL is 63.17 per cent, which it wants to reduce to 26 per cent. It will also undertake the asset monetization.
New Delhi| The Modi government is preparing to sell its stake in another big government company. According to the information received, the central government is considering selling its stake in another big state-owned company BHEL (Bharat Heavy Electricals Limited).
The government will retain only 26% stake
Currently, the government’s stake in BHEL is 63.17 per cent, which it wants to reduce to 26 per cent. It is being said that the govt will not only sell the stakes but also undertake the asset monetization. 4 to 5 such segments of the company are being identified which the government can entrust to private hands.
Process of handing over the non-core business in private hands
The government will hand over the non-core business in private hands and this process will be completed in the current financial year. In particular, there is a plan to hand over the transportation business of BHEL to private hands. A very high-level meeting has been held on both these proposals and a theoretical consensus has been reached on this. Now its process will be started as soon as possible.
Policy Commission identified companies
Right now in the process of strategic sales, the government has first identified the companies in which strategic sales can take place. Now the authority to decide this will not be with the nodal ministry of the company, now it is with the NITI Aayog. One of the companies NITI Aayog has identified is BHEL. On this proposal of NITI Aayog, an important meeting with the concerned ministries took place in the Cabinet Secretariat. After that happened in the Prime Minister’s Office. Then it was decided that BHEL would be handed over to private hands and would gradually reduce its stake.
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