Centre could privatise 5 companies by 2022; Check firms' names that could help meet disinvestment target

For FY23, the Central government has reduced the disventment target to Rs 65,000 crore.

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New Delhi: The government is reportedly expected to privatise five public sector undertakings by 2022, as the Centre plans to meet its disinvestment target of Rs 65,000 crore for the financial year 2022-23. 

The government has already prepared a road map for the disinvestment of the companies in both non-strategic and strategic sectors, according to a report by Bloomberg. 

The Central government had a disinvestment target of Rs 1.75 lakh crore for the financial year 2021-22, but managed to rake in only Rs 78,000 crore. Going forward, for FY23, the government reduced the target to Rs 65,000 crore. 

Here is the list of companies that could be disinvested in 2022: 

- The Central government is likely to disinvest three companies – Bharat Petroleum Corporation Ltd (BPCL), Rashtriya Ispat Nigam Limited (RINL) and Pawan Hans. 

       – BPCL Disinvestment: Minister of State for Finance Bhagwat Karad recently informed the Parliament that the government has received several expressions of interest for BPCL. 

       – The Centre has received three bids for Pawan Hans. The government is likely to raise around Rs 300 crore to Rs 350 crore in its fifth attempt to disinvest the ailing firm. 

       – Further, on RINL disinvestment, Union Steel Minister Ram Chandra Prasad Singh said that privatisation will help in the infusion of capital. He also pointed out that the company has increased its profits in the past 10 years.

- Also, the government is in the process of conducting the initial public offer (IPO) of LIC. The IPO could be launched as early as this month. The government is reportedly planning to sell its 5% stake in LIC. Also Read: World Bank cuts India growth forecast to 8%; Check forecast for Pakistan, Sri Lanka

- In 2022, the government has already sold its 100% stake in Air India to Talace Pvt Ltd, a wholly-owned subsidiary of Tata Sons. Another Tata Group company, Tata Steel Long Products Ltd, recently won the bid to acquire Neelachal Ispat Nigam Ltd (NINL). Also Read: IGL hikes CNG prices in Delhi by Rs 2.5 per kg; PNG to cost more too