New Delhi, Oct 12 (PTI) The government has invited bidsfrom central public sector enterprises (CPSEs) for buying itsentire shareholding in consultancy firms, NPCC, HSCC and EPIas it looks to bring all advisory business under one outfit.
Besides, the government wants to sell its 99.35 per centstake in Kolkata-based construction company Bridge & Roof Co,which is under the control of the Heavy Industries Ministry.
The government wants to sell its entire 98.99 per centstake in National Projects Construction Corporation (NPCC) and100 per cent each in Hospital Services Consultancy Corporation(HSCC) and Engineering Projects (India) Ltd, but only toCentral PSUs, according to a notice inviting bids.
The stake sale move is in line with the announcementFinance Minister Arun Jaitley made in his Budget for 2017-18outlining the desire to merge PSUs to create large state-ownedfirms.
The bids for NPCC, HSCC and EPI have to be put in byNovember 8, while that for Bridge & Roof Co it is December 11.
"The government has 'in-principle' decided to disinvestits entire equity shareholding in NPCC along with transfer ofmanagement control through a competitive bidding process byway of acquisition by a similarly placed CPSE through sale ofequity shares," the Department of Investment and Public AssetManagement said while inviting bids.
The disinvestment process will be implemented throughphysical open competitive bidding route, it added.
Under the administrative control of the Ministry of WaterResources, NPCC is primarily engaged in project managementconsultancy services for civil construction projects and civilinfrastructure for thermal and hydro electric projects inIndia.
HSCC, under the Ministry of Health and Family Welfare, isengaged in the provision of consultancy services in health-care and other social sectors in India and abroad.
The government will also transfer management controlthrough a competitive bidding process by way of sale EPI staketo a similarly placed CPSE.
In the current fiscal, the government plans to raise Rs15,000 crore through strategic sale of PSUs. PTI JDMKJ.
This is unedited, unformatted feed from the Press Trust of India wire.