The Cabinet modified the earlier decision of its Committee on Economic Affairs allowing all companies to take part in the strategic disinvestment of Engineering Projects (India) Limited (EPIL).
In October 2016, the committee had given an in-principle approval for strategic disinvestment of 100 per cent shareholding in EPIL through merger with similarly placed central public sector entities. An official statement said the modification would promote competition in the bidding process and may result in higher yield.
The proposed strategic disinvestment of EPIL would unlock resources to be used to finance the social sector, developmental programmes of the government, the statement said. “The strategic buyer will bring in funds, technology and/or new management practices for the optimum development of business and growth of the company, which may generate more employment opportunities,” it said.
OTHER DECISIONS
Leasing out of DMS’ 1.61-acre land for Kisan Mandi in Delhi
The Cabinet approved leasing out 1.61 acres of land at Alipur in the national capital to the government body SFAC for setting up a ‘Kisan Mandi’, a platform that will benefit farmer producer organisations (FPOs), as well as consumers.
Nod to India, Saudi Arabia MoU to boost infra investment
The government on Wednesday approved the signing of Memorandum of Understanding between India and Saudi Arabia on establishing a mechanism for investment in infrastructure.
Extension of CLCS-TUS scheme for MSMEs with Rs 2,900cr outlay
The government on Wednesday approved a three-year extension of the Credit-linked Capital Subsidy and Technology Upgradation Scheme for MSMEs with a total outlay of Rs 2,900 crore. The scheme has been approved for continuation beyond the 12th five-year plan for three years from 2017-18 to 2019-20.
Source: Business-Standard