October 13, 2017 9:16 AM

printer

Govt invites bids from CPSEs for buying NPCC, HSCC

The government has invited bids from central public sector enterprises (CPSEs) for buying its entire shareholding in consultancy firms, NPCC, HSCC and EPI. <br/><br/>The government looks to bring all advisory business under one outfit. Besides, the government wants to sell its 99.35 per cent stake in Kolkata-based construction company Bridge & Roof Co, which is under the control of the Heavy Industries Ministry.<br/><br/>According to a notice inviting bids, the government wants to sell its entire 98.99 per cent stake in National Projects Construction Corporation (NPCC) and 100 per cent each in Hospital Services Consultancy Corporation (HSCC) and Engineering Projects (India) Ltd, but only to Central PSUs.<br/><br/>The stake sale move is in line with the announcement Finance Minister Arun Jaitley made in his Budget for 2017-18 outlining the desire to merge PSUs to create large state-owned firms. In the current fiscal, the government plans to raise Rs 15,000 crore through strategic sale of PSUs.<br/><br/>The bids for NPCC, HSCC and EPI have to be put in by November 8, while that for Bridge & Roof Co it is December 11. The disinvestment process will be implemented through physical open competitive bidding route.

Most Read
View All arrow-right

No posts found.