New Delhi: The Government is planning to decrease shareholding in Defence Public Sector Undertakings (DPSUs) namely, BEML Ltd., Garden Reach Shipbuilders & Engineers Limited (GRSE), and Mishra Dhatu Nigam Limited (MIDHANI), the Minister of State for Defence, Shripad Naik, stated in a written reply to a question asked by Dr Santanu Sen in Rajya Sabha today.
Naik said the completion of a transaction depended on market conditions, so it was not possible to predict a timeline.
Following are the details of PSUs making defence-related equipment in which Government has already decreased its shareholding and funds collected by decrease in shareholding through each one of the PSUs in last five year:-
The Minister elaborated that the policy of disinvestment of minority stake without transfer of management control is being followed for priority sector including defence to unlock value, promote public ownership, to meet the minimum public shareholding norms of SEBI and for ensuring higher degree of accountability.
– global bihari bureau
