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New Delhi, The Centre has expanded its <keyword id="10476381" type="UNKNOWN" weightage="20" keywordseo="strategic-disinvestment-plan">strategic disinvestment plan</keyword> for <keyword id="10476379" type="UNKNOWN" weightage="20" keywordseo="current-fiscal-initiating">current fiscal initiating</keyword> the sell-off plan for <keyword id="782091" type="DOMAIN" weightage="20" keywordseo="Shipping-Corporation-Of-India-Ltd">Shipping Corporation of India Ltd</keyword> (SCI) by inviting expression of interest from potential interested parties. The <keyword id="26362" type="ORGANIZATION" weightage="20" keywordseo="Government">government</keyword> proposes to sell its entire shareholding of 63.75% in the listed entity to a buyer that will takeover the company with full management control. The proposed initiation of strategic sale plan for SCI is the second big initiative by the Centre after two of its entities - Air India and BPCL have reached advanced stages of bidding to sell the entire government equity. For the strategic disinvestment of Shipping Corporation of India (SCIL) EoI and PIM (preliminary information memorandum) have been published, DIPAM Secretary Tuhin Kanta Pandey said in a tweet. Interested players have to submit initial bids by February 13, 2021, said a preliminary information memorandum document. <keyword id="10476380" type="COMPANY" weightage="20" keywordseo="rbsa-capital-advisors">RBSA Capital Advisors</keyword> is the transaction advisor to the disinvestment. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-spicejet-interglobe-aviation-tata-motors-pfizer-asian-paints-niit-lupin-and-others/articleshow/79849749.cms">Top stocks to watch – SpiceJet, InterGlobe Aviation, Tata Motors, Pfizer, Asian Paints, NIIT, Lupin, and others</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-mrs-bectors-food-specialities-ipo-allotment-status-online/articleshow/79808672.cms?upcache=2">Mrs Bectors Food Specialities IPO allotment today: Here’s how to check share allotment status</a> <a href="https://www.businessinsider.in/business/startups/news/google-microsoft-invest-in-dailyhunt-for-its-short-video-platform-josh-making-it-the-latest-unicorn-in-india/articleshow/79850804.cms">Google, Microsoft invest in DailyHunt for its short video platform Josh – making it the latest unicorn in India</a>

Government invites bids for selling its stake in Shipping Corporation of India

The government has raised over Rs 4.04 lakh crore through disinvestment and strategic sale of public sector enterprises since the Modi government came into power in 2014, the <keyword id="47209" type="General" weightage="80" keywordseo="finance-ministry" source="Orion">Finance Ministry</keyword> said on Tuesday. Of this, the largest amount totalling over ₹1.07 lakh crore through offer for sale in 59 cases. This was followed by a stake sale through <keyword id="181067" type="General" weightage="80" keywordseo="exchange-traded-fund" source="Orion">Exchange Traded Fund</keyword> (ETF) in 10 tranches, aggregating to ₹98,949 crore. Strategic sales in 10 companies, including <keyword id="2573" type="General" weightage="80" keywordseo="air-india" source="Orion">Air India</keyword>, yielded Rs 69,412 crore to the exchequer in the last 8 years. Share buyback in 45 cases fetched ₹45,104 crore. 17 CPSEs were listed since 2014-15, which yielded Rs 50,386 crore. Of this, the initial pub<keyword id="6367143" type="General" weightage="80" keywordseo="lic" source="Orion">lic</keyword> offering (IPO) of LIC alone fetched the government Rs 20,516 crore. The additional market capitalisation of ₹7.31 lakh crore was achieved through new listings, the ministry said. Besides, the government has sold its residual stake in <keyword id="411504" type="General" weightage="80" keywordseo="paradeep-phosphate-ltd" source="Orion">Paradeep Phosphate Ltd</keyword>, IPCL, and Tata Communication for ₹472 crore, ₹219 crore and ₹8,847 crore, respectively. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/fintech-player-zaggle-files-ipo-papers-with-sebi-to-mobilise-funds-via-ipo/articleshow/96367455.cms">Fintech player Zaggle files IPO papers with Sebi to mobilise funds via IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rbi-to-pause-rate-hikes-in-2023-peak-rate-at-6-25-to-6-5-percent-says-kotak-institutional-equities/articleshow/96371881.cms">RBI to pause rate hikes for most of 2023, hold peak policy rate at 6.25-6.5%: Kotak Institutional Equities</a>

Govt raises over ₹4 lakh crores via disinvestment since 2014

New Delhi, Jul 3 () The government will focus on strategic stake sales to meet the Rs 1.20 lakh crore CPSE disinvestment target in the current fiscal, DIPAM Secretary Tuhin Kanta Pandey said on Friday. The government has already invited bids for strategic sale of national carrier Air India and oil major BPCL. However, their bid deadlines have been extended amid the COVID-19 pandemic. For BPCL, in which the government is selling 52.98 per cent stake, the deadline has been extended till July 31. For 100 per cent stake sale in Air India, the deadline for bid submission is now August 31. Speaking at a webinar on Bharat Bond ETF, Pandey said the Department of Investment and Public Asset Management (DIPAM) has minority stake sales of CPSEs on its table but the emphasis is on strategic disinvestment. "Many of our strategic transactions are going on and moving forward. There was little bit of disruption due to COVID and extensions given in terms of EoI (Expression of Interest) but the government has clarified that we are very much on the same track of aggressively pursuing strategic disinvestment. More focus on that. "Of course, there will be OFS (offer for sale), buybacks...(but) it will be more focused on strategic disinvestment," he said. For the 2020-21 fiscal, the government has set a disinvestment target of Rs 2.10 lakh crore. Of this, Rs 1.20 lakh crore will come from disinvestment of public sector undertakings and another Rs 90,000 crore from stake sales in financial institutions, including life insurance behemoth LIC. The strategic sales being pursued right now include Air India, BEML, Scooters India, Bharat Pumps Compressors, and some units of steel major SAIL, among others. The government had in May announced that a maximum of four public sector companies will be present in strategic sectors, while state-owned firms in other segments will be privatised. This is part of a new coherent Public Sector Enterprises Policy to be formulated to push reforms in Central Public Sector Enterprises (CPSEs). Under the policy, a list of strategic sectors will be notified where there will be at least one, and a maximum of four, public sector enterprises, apart from private sector companies. In other sectors, CPSEs will be privatised depending upon the feasibility. JD AA ABM ABM

Govt to focus on strategic stake sales to meet disinvestment target: DIPAM Secretary

The government has merged the Department of <keyword id="108214" type="CITY" weightage="20" keywordseo="Public-Enterprises">Public Enterprises</keyword> (DPE) with the finance ministry to give it a better control over state-owned firms and facilitate its ambitious privatisation programme. Finance ministry will now have six departments while DPE's hereto parent ministry, the ministry of heavy industries and public enterprises will now be called the ministry of heavy industries. Previously, the <keyword id="44532" type="PERSON" weightage="20" keywordseo="Disinvestment">disinvestment</keyword> ministry - created under the Atal Bihari Vajpayee government - was merged with the Finance Ministry and is now a department under it. Also, <keyword id="62529" type="ORGANIZATION" weightage="20" keywordseo="Foreign-Investment-Promotion-Board">Foreign Investment Promotion Board</keyword> (FIPB) was abolished and administration of foreign investments was given to the Finance Ministry (FinMin). The shift of DPE to the finance ministry will help in efficient monitoring of the capital expenditure, asset monetisation and financial health of the Central Public Sector Enterprises (CPSEs). "<keyword id="156153" type="ORGANIZATION" weightage="20" keywordseo="Ministry-of-Finance">Ministry of Finance</keyword> (<keyword id="11588398" type="UNKNOWN" weightage="20" keywordseo="vitta-mantralaya">Vitta Mantralaya</keyword>), after the sub-heading (v) Department of <keyword id="6354241" type="UNKNOWN" weightage="20" keywordseo="Financial-services">Financial Services</keyword> (Vittiya Sewayen Vibhag), following sub-heading shall be inserted, namely:- (vi) Department of Public Enterprises (Lok Udyam Vibhag)" as per the Cabinet Secretariat notification dated July 6, 2021. The rejig comes ahead of Cabinet expansion slated later in the day. The gazette notification issued said these rules may be called the government of India (Allocation of Business) Three Hundred and Sixty First Amendment Rules, 2021. "They shall come into force at once," the notification said. Presently, the finance ministry has five departments -- Economic Affairs, Revenue, Expenditure, Investment and Public Asset Management and Financial Services. With the addition, this will be the sixth department under the finance ministry. Giving details of the functions performed by the DPE, the notification said coordination of matters of general policy affecting all Public Sector Enterprises (PSEs), evaluation and monitoring the performance of PSEs, including the memorandum of understanding mechanism, review of capital projects and expenditure in CPSEs. Besides, the DPE frames measures aimed at improving performance of CPSEs and other capacity building initiatives of PSEs, rendering advice relating to revival, restructuring or closure of PSEs including the mechanisms, counselling, training and rehabilitation of employees in CPSEs under Voluntary Retirement Scheme and categorisation of CPSEs including conferring 'Ratna' status, among others. The heavy industries ministry will continue to be the administrative ministry related primarily to the capital goods sector. As many as 44 CPSEs including Maruti Udyog Limited, BHEL, Cement Corporation, <keyword id="173465" type="CITY" weightage="20" keywordseo="Scooters-India">Scooters India</keyword>, HMT and various other subsidiaries would be under the Ministry of Heavy Industries. Many companies under the ministry are sick and up for sale under the disinvestment programme of the government. Finance minister Nirmala Sitharaman in her Budget 2021-22 already announced that a revised mechanism for fast-tracking closure of loss making PSUs would be worked out and an incentive package would be developed to incentivise states to sell stake in state PSUs. To monetise lands owned by CPSEs, a special purpose vehicle (SPV) would be developed. She also announced a big-ticket privatisation agenda, including privatisation of two public sector banks and one general insurance company to garner Rs 1.75 lakh crore from stake sale in public sector companies and financial institutions during 2021-22. As part of the divestment strategy for the financial sector, the government has decided to go for a mega initial public offering (IPO) of Life Insurance Corporation of India (LIC) and residual stake sale in IDBI Bank during the financial year beginning April. Besides, strategic sale of Bharat Petroleum Corporation Ltd (BPCL), <keyword id="11588399" type="UNKNOWN" weightage="20" keywordseo="shipping-corp-container-corporation">Shipping Corp, Container Corporation</keyword>, <keyword id="2459265" type="PERSON" weightage="20" keywordseo="Neelachal-Ispat-Nigam-Ltd">Neelachal Ispat Nigam Ltd</keyword>, <keyword id="132488" type="COMPANY" weightage="20" keywordseo="Pawan-Hans">Pawan Hans</keyword>, Air India among others, would be completed in 2021-22. In September 2020, the government had apprised that out of the 34 PSUs approved for disinvestment so far, transactions were completed for eight. Transactions for four PSUs were halted as they are recommended for closure. Two of them were held up due to litigation, while transactions for 20 PSUs are in the process. SEE ALSO- <a href="https://www.businessinsider.in/stock-market/news/clean-science-and-technology-ipo-maximum-broking-house-recommending-this-ipo/articleshow/84193873.cms" data-type="tilCustomLink">Clean Science and Technology, an Indian supplier to Bayer, has opened its IPO ⁠— and ‘subscribe’ is the unanimous call from analysts</a> <a href="https://www.businessinsider.in/stock-market/news/gr-infraprojects-ipo-good-ipo-bet-for-long-term-as-per-analysts/articleshow/84193656.cms" data-type="tilCustomLink">GR Infraprojects IPO is for long term investors, say analysts</a>

Government merges the Department of Public Enterprises with the Finance Ministry to bring better control over state-owned firms

The much-anticipated IPO of public sector insurer Life Insurance Corp of India (LIC) may well lend more sparkle to the Indian stock markets this Diwali. Speaking to IANS, <keyword id="44532" type="COMPANY" weightage="20" keywordseo="Disinvestment">Disinvestment</keyword> Secretary Tuhin Kanta Pandey noted the fact that LIC is a complex undertaking but the government is up to the challenge and will complete the market offering post October. "It may happen after October... around Diwali," Pandey said in the interview. He added that the government has already initiated its plan to clear all incumbrances on way of LIC IPO. In this regard, he said that the amendment required for the IPO has already been included as part of the Finance Bill, 2021 and will become effective once <keyword id="6354721" type="COMPANY" weightage="20" keywordseo="parliament">Parliament</keyword> gives its nod to the <keyword id="6360189" type="COMPANY" weightage="20" keywordseo="union-budget">Union Budget</keyword>. Presenting the Union Budget on Monday, Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> said that all the announced disinvestment proposals including the LIC IPO would be completed this fiscal. She had first made the mega announcement of the IPO in the last year's budget. On the size of the <keyword id="8843196" type="UNKNOWN" weightage="20" keywordseo="LIC-Offer">LIC offer</keyword>, Pandey said that the amount of shares to be offered in the initial public offering (IPO) would depend on the embedded value and the size. The valuation process is underway for the insurance giant. "This is an institution in which people have trusted and we don't want to break their trust. We have even asked them to be the owners (shareholders)." Pandey said that Amendment Act reserves 10 per cent of the total shares on the block for policy-holders. Regarding the requirement of listed public sector companies to achieve minimum public shareholding of 25 per cent, he said that a new rule is in the making for large PSUs having high valuations. A rule notified in 2018 had mandated every listed PSU, which has public shareholding below 25 per cent, to increase its public shareholding to at least 25 per cent, within a period of two years from the date of that notification -- August 3, 2018. The government has however extended the time period for compliance to the norm till August 2021. Currently, the government totally owns LIC and its valuation is expected to be in the range of Rs 8-10 lakh crore. Once LIC enters the stock market, it may be the largest IPO in Indian history, even if just 5 per cent of its paid-up equity capital is offered to the public. The top five IPOs in India so far are Coal India, Reliance Power, General Insurance Corporation of India (GIC Re), ONGC and SBI Cards and Payment Services. Each of these have been in the vicinity of Rs 10,000 crore. The Secretary for the Department of Investment and Public Asset Management (DIPAM) also said that the government's core focus in terms of disinvestment will be strategic sale and the major chunk of revenue from offer of shares on the stock markets, be it an IPO or offer for sale (OFS) would come from the LIC IPO. SEE ALSO: <a href="https://www.businessinsider.in/business/news/reliance-subsidiary-to-sell-all-of-its-upstream-assets-in-marcellus-shale-play-for-250-million/articleshow/80682497.cms" data-type="tilCustomLink">Reliance subsidiary to sell all of its upstream assets in Marcellus shale play for $250 million</a> <a href="https://www.businessinsider.in/business/corporates/news/kishore-biyani-says-sebi-ban-wont-stop-future-group-deal-with-reliance/articleshow/80680781.cms" data-type="tilCustomLink">Kishore Biyani says SEBI ban won't stop Future Group's deal with Reliance</a>

LIC IPO to launch in October — Government may reserve 10% portion for policyholders

New Delhi, Jan 10 () NMDC Chairman and Managing Director N Brijendra Kumar on Friday said that the Union Cabinet has approved disinvestment of stake of six public sector units (PSUs) in Neelachal Ispat Nigam Ltd, and not that of NMDC. 
 Neelachal Ispat Nigam Ltd (NINL) is a joint venture company, in which four central PSUs -- MMTC, National Mineral Development Corporation (NMDC), Bharat Heavy Electricals Ltd (BHEL) and MECON -- and two Odisha government companies, IPICOL and Odisha Mining Corporation (OMC), are shareholders.
 The government on Wednesday gave in-principle approval for strategic sale of NINL by allowing six PSU shareholders to sell their stake in the steel company.
 "Still confusion is being created by some ppl regarding disinvestment in #NINL,a joint venture company of central and state PSUs in the State of Odhisha.The present decision is not for the disinvestment of @nmdclimited . I repeat No Disinvestment of #NMDC by the present decision," Kumar said in a tweet.
 Some people for their vested interest are spreading rumours on social media and in general public that NMDC is being disinvested which has created an atmosphere of confusion. NMDC is just a stakeholder in NINL, he told .
 Kumar said people must read the government's decision with regard to NINL and understand that the decision is not related to divestment of NMDC.
 MMTC holds 49.78 per cent share in NINL, followed by OMC (20.47 per cent), IPICOL (12 per cent), NMDC (10.10 per cent). MECON and BHEL hold 0.68 per cent stake each in the company. 
 The strategic buyer for NINL will be identified through a two-stage auction procedure, an official statement had said. ABI RVK

'Cabinet approved disinvestment of stake in NINL, not NMDC'

Bhubaneswar, Mar 8 () The officers association ofthe Neelachal Ispat Nigam Ltd on Sunday urged the Centre toreview its decision to disinvest 100 per cent equity in NINLand demanded that major promoters infuse funds for running ofthe steel plant at the optimum level.NINL has a 1.1 Mtpa integrated steel plant inKalinganagaar in Odisha. MMTC has 49.78 per cent share inNINL, while Odisha government has 32.47 per cent stake throughIPICOL and OMC."Government should review the decision of thedisinvestment process. Major promoters of NINL like MMTC, OMCand IPICOL should immediately infuse fund for runningoperation of the steel plant at optimum level and to bringmines operative," Neelachal Executive Association (NEA)president Avijit Koley and general secretary AK Pradhan said.They claimed that disinvestment may not be the remedyof all problems of NINL and instead merger of NINL withstate-owned Sail or Rinl will pave way for meeting mutualinterest to expand steel capacity in the country.Koley said that NINL had achieved net profit up to2011-12. The NEA president claimed that the company made lossfrom 2012-13 due to low equity infusion, insufficient cashflow, want of fund for repair, modernization, expansion,inadequate supply of raw materials, high production cost andcommission at high rate to MMTC upon purchase and sell.In 2018-19, NINL took many positive steps towardsrevival and blast furnace capital repair increasedproductivity, while its captive mine got all clearances in2019, he said.The Cabinet Committee on Economic Affairs (CCEA) hasapproved strategic disinvestment of 100 per cent equityshareholding in NINL."Merger with Sail/Rinl will allow fulfilling mutualinterest to achieve capacity expansion. Given uncertaintiesassociated with greenfield projects, acquisition of NINL bySail/Rinl appears to be a preferred option," they said.NINL has 2500 acres of undisputed land sufficient forexpansion of up to 10 MTPA, own captive mine of 110 milliontonne of estimated reserve and mining lease for 50 years,state of the art production unit and good connectivity."Merger with Sail or Rinl will give a big boost towardscapacity expansion of psu steel units," they said.The claimed that around 10,000 people are dependent onNINL for livelihood and stressed the need for immediateinfusion of fund for running of the plant. SKNRG RG

NEA urges Centre to review NINL disinvestment decision

New Delhi, Jan 13 () NMDC has informed the steel ministry about the confusion being created that the state-owned miner is being disinvested, a government official said.
Some people for their vested interest are spreading rumours on social media and in general public that NMDC is being disinvested, which has created an atmosphere of confusion, its Chairman N Brijendra Kumar said last Friday.
He also clarified that NMDC itself is just a stakeholder in Neelachal Ispat Nigam Ltd (NINL)
Last week, the government gave in-principle approval for strategic sale of NINL by allowing PSU shareholders to sell their stake in the steel company.
NMDC has apprised the steel ministry that confusion is being created and rumours are being spread over the issue, the official said, while assuring action against those who are misleading the public.
"Still confusion is being created by some ppl regarding disinvestment in #NINL, a joint venture company of central and state PSUs in the State of Odhisha. The present decision is not for the disinvestment of @nmdclimited . I repeat No Disinvestment of #NMDC by the present decision," Kumar said in a tweet.
He also said people must read the government's decision with regard to NINL and understand that the decision is not related to divestment of NMDC.
Neelachal Ispat Nigam Ltd (NINL) is a joint venture company, in which four central PSUs -- MMTC, National Mineral Development Corporation (NMDC), Bharat Heavy Electricals Ltd (BHEL) and MECON -- and two Odisha government companies, IPICOL and Odisha Mining Corporation (OMC), are shareholders.
MMTC holds 49.78 per cent share in NINL, followed by OMC (20.47 per cent), IPICOL (12 per cent), NMDC (10.10 per cent). MECON and BHEL hold 0.68 per cent stake each in the company.
The strategic buyer for NINL will be identified through a two-stage auction procedure, an official statement had said. ABI SID BAL
BAL

NMDC informs Steel Ministry about NMDC disinvestment rumours

New Delhi, Jan 28 () Global airlines' grouping IATA on Tuesday expressed hope that the disinvestment process will result in a strong and rejuvenated Air India, which is able to support growth of India's aviation market.
The International Air Transport Association (IATA) has around 290 airlines as members, including Air India.
Making a second attempt in as many years for strategic disinvestment of Air India, the government on Monday issued the preliminary bid document for 100 per cent stake in the debt-laden airline.
"We hope the disinvestment process will deliver a strong and rejuvenated Air India that is able to support the anticipated growth potential of India's aviation market," IATA Assistant Director (Corporate Communications - Asia Pacific) Albert Tjoeng told in an e-mailed statement.
At the same time, it is important to ensure that the operating and regulatory environment in the country allows Air India and all Indian carriers to operate effectively, he said.
In 2019, domestic air passenger traffic in India stood at 14.41 crore, an increase of nearly four per cent compared to the previous year, as per the latest official data.
As part of the latest disinvestment plan, Air India would also sell its 100 per cent stake in budget carrier Air India Express as well as 50 per cent shareholding in equal joint venture Air India SATS Airport Services (AISATS).
All the three entities would be sold together and management control of the national carrier would be transferred to the new investor.
Air India is in the red for long and the disinvestment is aimed at reviving the fortunes of the full service carrier. RAM BAL
BAL

Hope disinvestment will deliver a strong, rejuvenated Air India: IATA

New Delhi, Mar 12 () The government is likely to fall short of its revenue collection estimates in the current fiscal and may face challenges meeting the same in the next as the coronavirus pandemic slows down demand and economic activity. For an economy that has already slowed down to an 11-year low rate of growth, the outbreak of coronavirus has impacted sectors such as tourism and hospitality after the government placed visa restrictions. As the impact of coronavirus is widely expected to stay till June-end, officials expect mop-up from disinvestment and taxes to falter, even as oil price fall is likely to make up for the loss in revenue receipts for the current fiscal. "While lower international oil prices will lead to lower current account deficit and inflation, reduced economic activity will dampen tax mop-up," an official said. However, the decline in oil prices could have a bearing on the strategic sale plans for BPCL which has seen erosion in market capitalisation over the last month. Global oil prices declined 20 per cent to USD 35 a barrel following collapse in cooperation between Saudi Arabia and Russia to limit supplies. Further, the coronavirus scare has also derailed CPSE disinvestment plans as international roadshows have been put on hold and minority share sale plans had to be deferred due to a crash in the domestic stock market. The 30-share BSE Sensex closed 2,919.26 points or 8.18 per cent lower at 32,778.14 on Thursday, recording its biggest ever one-day plunge. The government had in the revised estimates (RE) in Budget pegged proceeds from disinvestment at Rs 65,000 crore. With the government so far raising about Rs 35,000 crore, the proceeds are likely to fall short by a huge margin of about Rs 15,000-20,000 crore in the current fiscal, officials said. The only big ticket disinvestment lined up is NTPC acquiring government's entire stake in THDC and North Eastern Electric Power Corporation Ltd (NEEPCO). The government has collected over Rs 7.52 lakh crore as direct taxes till January 31 of the current fiscal. As per revised estimates, direct tax collection target has been pegged at Rs 11.70 lakh crore for the current fiscal ending March. Officials said the government is not yet revising its 6-6.5 per cent economic growth target fixed for the 2020-21 fiscal, up from an estimated 5 per cent in the current financial year. Total number of coronavirus cases in India rose to 73 on Thursday. JD ANZ ABMABM

Coronavirus: Govt may miss tax, disinvestment mop-up targets this fiscal

New Delhi, Dec 28 () Bhartiya Mazdoor Sangh, the RSS-affiliate trade union, said it will hold a nationwide protest on Friday against government policies on disinvestment, privatisation and fixed-term employment in the country. 
"We will hold nationwide protest at all district head quarters throughout the country on January 3, 2020 to awaken the government," a BMS statement said on Saturday.
According to the statement, the union will also hold demonstration at Jantar-Mantar in the national capital on Friday.
The union noted that most of the formal jobs in the country have been contractualised or made fixed-term jobs.
The job security has been compromised and workers always run the risk of being thrown out/replaced, it added.
BMS has strongly opposed contractualisation, and casualisation of jobs and demanded that all contract, fixed-term, casual, daily-wage, temporary workers should be regularised as permanent employment, the trade union said.
The union has also demanded that all scheme workers working in Aanganwadi, Aasha, PDS, Midday Meal, NHM etc plans should be conferred the title of government servants.
It also urged the government to stop disinvestment, strategic sale, corporatisation and privatisation of public sector undertakings.
The union contended that the PSUs are the backbone of the Indian industrial structure and the government must stop policy driven disinvestment /privatization of the same.
On foreign direct investment (FDI), the union said that FDI must be
stopped. 
Corporatisation of defence sector is a matter of national security. Privatisation of railways, which is an essential service and lifeline of Indian cities, must be stopped, it added.
BMS lauded government's efforts towards codification of labour laws into 4 codes.
However, it expressed concerns that a number of provisions in the codes are effectively anti-labour and hurt the general interest of workers and has suggested the government to remove those provisions.
The union has also urged the government to ensure effective implementation of labour laws in the country. KKS KKS BAL
BAL

BMS to hold nationwide protest on Jan 3 against disinvestment, fixed term jobs

Mumbai, Dec 17 () The government is looking to shift more debt from the balance sheet of disinvestment-bound Air India to asset holding company AIAHL to further sweeten the deal for prospective buyers, according to a senior airline official.
 The government plans to sell 100 per cent stake in the loss-making carrier.
 In efforts to make the disinvestment more attractive, the carrier has already transferred Rs 29,474 crore of debt to Air India Assets Holding Ltd (AIAHL), a Special Purpose Vehicle (SPV).
 "We are evaluating if we can take out some more debt from the balance sheet and park it in the SPV. Earlier, our plan was to give debt in proportion to assets. As part of that, we have already transferred almost half of the total debt to AIAHL," the official in the know of the development told .
 The official also said the government is trying to work out some formula to further make the deal more sweeter.
 On Monday, Civil Aviation Secretary Pradeep Singh Kharola said the government is working on the debt issue of Air India to make it more attractive to buyers.
 "However, investors thought that the amount of debt retained by the carrier was not going to sustain so we are working on that also. We will see to it that the debt being parked with Air India is such that any bidder will be able to make it sustainable and if he feels that he can invest and improve profitably," Kharola had said.
 On Tuesday, the official said it is yet to be decided whether the additional debt will be taken out of the aircraft loan or working capital. "It is more or less decided that they will remove some more," the official added.
 Air India has a debt of over Rs 58,000 crore.
 The airline's net loss in 2018-19 is provisionally estimated to be Rs 8,556.35 crore.
 An industry expert opined that the airline cannot be given for free and that any prospective buyer will have to shoulder a part of the total debt.
 "Air India owns over 60 planes of the total 127 in the fleet, which are good assets. You can't give an airline without any debt with such assets," he said.
 On December 12, Minister of State for Civil Aviation Hardeep Singh Puri said that after formation of the new government, Air India Specific Alternative Mechanism (AISAM) has been reconstituted and the re-initiation of the strategic disinvestment of Air India has been approved.
 "AISAM has approved the 100 per cent sale of Government of India stake in Air India for the re-initiated strategic disinvestment of Air India," he had told the Lok Sabha. IAS RAM MKJ

Govt looking to shift more debt out of AI balance sheet before disinvestment

New Delhi, Mar 11 () The government is looking for entities to value the assets of Project &amp; Development India Ltd (PDIL) for its proposed strategic sale. The scope of work for the asset valuer is to carry out the valuation of all assets of PDIL, including its plant and machinery, land and buildings, furniture and fixtures, and civil infrastructure, said the Request for Proposal (RFP) floated by the Department of Investment and Public Asset Management (DIPAM). "DIPAM in the process of Strategic disinvestment of 100 per cent GoI equity shareholding in PDIL through strategic sale with transfer of management control, on the behalf of Government of India, requires the services of a reputed Asset Valuer to carry out a diligent and fair assets valuation of PDIL and assist Government in the process," it said. In estimating the market value of assets, the valuer would have to clearly identify assets and properties, including intangibles such as trademark, and title to property rights. The valuer will collect information and conduct due diligence of matters like market information quotations and offers of similar assets sold or available in close proximity to the property. Interested asset valuers should have successfully completed at least one valuation in the last three years (January 2017 to December 2019) of assets of similar nature of a value of Rs 1,000 crore or more, the RFP said. Also, the valuer should have minimum average annual turnover of Rs 10 crore in three previous financial years. The government has set a target of Rs 1.20 lakh crore to be mopped up from CPSE disinvestment in next fiscal beginning April. JD ABMABM

Govt scouts for asset valuers for PDIL strategic sale

New Delhi, Jan 17 () Successful disinvestment of Bharat Petroleum, Container Corporation of India and Shipping Corporation will lay the foundation of a much ambitious programme for stake sale in the central public sector undertakings, Former Finance Secretary Subhash Chandra Garg said on Friday.
 From the perspective of non-tax income and receipts, 2019-20 will be an eventful year witnessing some extra-ordinarily positive events and a few misses, Garg said in a blog.
 "Initiation of strategic stake sale in BPCL, CONCOR and SCI was a path-breaking measure and if carried to its logical end, privatisation agenda, stalled for last more than 15 years, would come back on track. 
 "These three transactions would lay foundation for a much more ambitious programme of disinvestment of central public sector undertakings," he said.
 The former finance secretary also noted that if this larger and more ambitious programme of strategic disinvestment can be announced, company by company in the Budget 2020-21, it would send very clear and positive message.
He pointed out that another extremely positive outcome for the government was the receipt of extra-ordinarily large surplus transfer from the RBI.
The government received about Rs 1.5 lakh crore, which was higher than the transfer received in the last three years together. 
 "It is unlikely to continue in 2020-21, but if the RBI does not end up retaining any part of surplus in 2020-21 distribution, the government can expect to get about Rs 90,000 crore. 
 "If RBI retains, it might be about Rs 10,000 crore less," he said. BKS CS MKJ

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