New Delhi : The Department of Investment and Public Asset Management (DIPAM) is drafting Cabinet notes for the listing of 12 more state-owned companies, apart from the ones mentioned in the Budget for 2017-18 (April-March), two government officials said.
“We have had discussions with concerned ministries and shortlisted 12 companies across all sectors for initial public offerings. They should be taken up by the Cabinet for its approval soon,” one of the officials told Cogencis.
In January, the Cabinet approved the proposal for listing of four state-owned general insurance companies, including Oriental Insurance Co Ltd, National Insurance Co Ltd, New India Assurance Co Ltd and United India Insurance Co Ltd. Finance Minister Arun Jaitley in his Budget speech on Febraury 1 had said, “listing of public sector enterprises will foster greater public accountability and unlock the true value of these companies.”
Among the 12 companies shortlisted, three are railway public sector companies, another official said. “Finance and railway ministries had a meeting recently in which a number of railway companies, including Rail India Technical and Economic Service Ltd, Burn Standard Co Ltd and Dedicated Freight Corridor Corp, were being considered for listing,” the official said.
“Three companies should be taken up for Cabinet approval by the end of this month.” The railway ministry has also examined the possibility of listing Rail Vikas Nigam Ltd, Railtel Corp of India Ltd, Mumbai Railway Vikas Corp and several others.
The Budget for 2017-18 proposed the listing of Indian Railway Finance Corp, Indian Railway Catering and Tourism Corp and IRCON International Ltd.
