<p>The Centre is looking at asset monetisation to meet the 2019-20 divestment target of <span class="st">Rs 1,05,000 crore</span>, according to a <em>Business Standard</em> report.</p>.<p>The government and asset reconstruction companies are at an advanced stage of processing a number of assets of the Centre and Central Public Sector Enterprises (CPSEs) to be monetised, according to <em>Business Standard</em> sources.</p>.<p>“A lot of departments and CPSEs have been mobilised to speed up asset monetisation,” a senior government official told <em>Business Standard</em>.</p>.<p>Since a number of marquee state-owned companies are unlikely to be completed this fiscal year, assets worth around Rs 100,000 crore could be monetised before March 31 this year, according to a source at a major asset reconstruction company working with the government.</p>.<p>“These asset sales are very easy to carry out because they are operating assets, and there is a lot of interest for them. The risk is minimal,” the person told the newspaper. The source also told <em>Business Standard</em> that it was difficult to set a target for asset monetisation.</p>.<p>“In the case of CPSE assets, the proceeds of any sale would go to the company concerned. The company will then pay dividend to the government. If it is a loss-making company, then in accordance with the Companies Act, it cannot pay dividend. Hence, we cannot put a number to asset monetisation easily, compared to sale of stake on exchanges or privatisation,” the official said.</p>.<p>According to the report, the assets include land, factories, apartments and office space belonging to CPSEs like Project and Development India, Hindustan Prefab, Bridge and Roof Co, Scooters India, Bharat Pumps and Compressors, Pawan Hans, Air India, Hindustan Newsprint, Hindustan Fluorocarbon and others.</p>.<p>Further, the office spaces and apartments are mostly in the Delhi NCR and Mumbai/Navi Mumbai. </p>.<p>“Some assets belonging to BEML have already been released to an asset reconstruction company. It will now identify buyers and investors and decide the best method to garner revenue from the assets,” the second official told <em>Business Standard</em>.</p>
<p>The Centre is looking at asset monetisation to meet the 2019-20 divestment target of <span class="st">Rs 1,05,000 crore</span>, according to a <em>Business Standard</em> report.</p>.<p>The government and asset reconstruction companies are at an advanced stage of processing a number of assets of the Centre and Central Public Sector Enterprises (CPSEs) to be monetised, according to <em>Business Standard</em> sources.</p>.<p>“A lot of departments and CPSEs have been mobilised to speed up asset monetisation,” a senior government official told <em>Business Standard</em>.</p>.<p>Since a number of marquee state-owned companies are unlikely to be completed this fiscal year, assets worth around Rs 100,000 crore could be monetised before March 31 this year, according to a source at a major asset reconstruction company working with the government.</p>.<p>“These asset sales are very easy to carry out because they are operating assets, and there is a lot of interest for them. The risk is minimal,” the person told the newspaper. The source also told <em>Business Standard</em> that it was difficult to set a target for asset monetisation.</p>.<p>“In the case of CPSE assets, the proceeds of any sale would go to the company concerned. The company will then pay dividend to the government. If it is a loss-making company, then in accordance with the Companies Act, it cannot pay dividend. Hence, we cannot put a number to asset monetisation easily, compared to sale of stake on exchanges or privatisation,” the official said.</p>.<p>According to the report, the assets include land, factories, apartments and office space belonging to CPSEs like Project and Development India, Hindustan Prefab, Bridge and Roof Co, Scooters India, Bharat Pumps and Compressors, Pawan Hans, Air India, Hindustan Newsprint, Hindustan Fluorocarbon and others.</p>.<p>Further, the office spaces and apartments are mostly in the Delhi NCR and Mumbai/Navi Mumbai. </p>.<p>“Some assets belonging to BEML have already been released to an asset reconstruction company. It will now identify buyers and investors and decide the best method to garner revenue from the assets,” the second official told <em>Business Standard</em>.</p>