November 17, 2020 3:43:46 am
The Department of Investment and Public Asset Management (DIPAM) Monday signed an agreement with World Bank for providing advisory services to the department for asset monetisation.
In another development, the Finance Ministry invited bids from actuarial firms for arriving at the embedded value of Life Insurance Corporation (LIC) ahead of its IPO.
The government has tasked DIPAM to facilitate monetisation of non-core assets of central public sector enterprises, or CPSEs, under strategic disinvestment of value of Rs 100 crore and above.
The World Bank advisory project is aimed at analysing public asset monetisation in India and benchmarking its institutional and business models against international best practices as well as supporting development of operational guidelines, the Finance Ministry said in a statement.
“It is expected that this project would facilitate and accelerate the non-core asset monetisation process and help unlock the value of these un-used/marginally used assets which has the potential to substantially augment financial resources for further investments and growth,” it said.
The central government also plans to sell minority stake in LIC, the country’s largest insurer, and list it on bourses.
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