Search Result for : Disinvestment

Sneha Gilada  Even as the opposition reprimands the government's disinvestment plans that are likely to jeopardize thousands of jobs, defence equipment manufacturer Bharat Earth Movers (BEML) notified the stock exchanges that the cabinet has given an 'in-principle' approval for the strategic disinvestment of 26% equity shares out of the government’s shareholding of 54.03%.  In the centre's bid to offload its poorly performing PSUs to the private sector, BEML is the first major PSU to go through disinvestment via a strategic sale. The sale is expected to deposit over 1000 crores into the exchequer's coffers. Only three such strategic sales have taken place in the last 12 years.  This privatisation hopes to bring efficiency, professionalism and improved performance in the functioning of enterprise alongside much-needed revenue.  Of the Rs 56,500 crore revenue that the government is targeting in disinvestment proceeds this financial year, Rs 36,000 crore is to come from minority ...

The Dollar Business Bureau  With complete dimming of disinvestment in the current financial year, the government is likely to drastically scale down targets for realisation of resources from Public Sector Units’ (PSUs) stake sale in the upcoming budget for 2016-17. “With just about a month to go for the budget presentation and the window of opportunity having been missed earlier in the year, there is no hope that the over-optimistic disinvestment target of Rs.69,500 crore for the current financial year could be reached,” said Associated Chamber of Commerce and Industry (ASSOCHAM) in its latest release. Hopefully, the Finance Ministry will desist from setting an un-realistic disinvestment yet again for the financial year 2016-17, ASSOCHAM paper on budget expectations pointed out. “Oddness against the equity ...

Prime Minister Narendra Modi on Friday said his government can look at corporatising state-run firms as an alternative to improve their viability Source: PTI We have made shipping companies, which were running in losses, profitable, says PM   Prime Minister Narendra Modi on Friday said his government can look at corporatising state-run firms as an alternative to improve their viability since divesting them or closure were not the only available options. In our country reformists would say that you do disinvestment. If we do, then they would say this government has done 'very good'. If strike happens then there will be a photo on front page saying 'Modi murdabad, Modi murdabad'. We have made shipping companies, which were running in losses, profitable. Do we have ...

Source: PTI Normal working at banks was affected on Wednesday due to a nationwide strike called by 10 central trade unions, although the staff of SBI, IOB, ICICI Bank, HDFC Bank and Axis Bank stayed away from the agitation. “23 public sector banks, 12 private sector banks, 52 regional rural banks and over 13,000 cooperative banks have gone on strike today to protest against government's pro- corporate policies,” said All India Bank Employees Association General Secretary C H Venkatachalam. He said that over half of the 10 lakh banking sector workers are supporting the strike call given by 10 central trade unions as their talks with the government on 12-points charter of demand failed last month. Venkatachalam further said that among public ...