Disinvestment: Strategic sale in 16 public sector companies possible this year

Government is looking to divest its shares in 16 public sector companies, sources told Zee Business. 

Terming this as a 'strategic sale', the companies include Cement Corporation, Hindustan Steel Workers and Rajasthan Drug and Pharmaceutical are part of the list among others.  

Though NITI Aayog has not decided any action on the sale of National Textile Mills and Bharat Petro Resources. The government has asked for more time for detailed study.

As per sources, the government has already started looking at the merchant bankers for the disinvestment in the minority shareholding companies. 

On Friday, Specified Undertaking of the UTI (Suuti) invited applications from merchant bankers to advise it on which companies it should exit, as well as the pricing and timing of the sales. It would appoint three bankers for three years to execute its plans.

Moreover, last week, Amitabh Kant, CEO of NITI Aayog presented a road map on government's disinvestment plan. 

For FY17, the Centre is aiming to raise Rs 36,000 crore via disinvestment in government-owned companies and Rs 20,500 crore through strategic sale.