The Centre may sell its stakes in Bharat Heavy Electricals Ltd. (BHEL), MECON Ltd. and Andrew Yule and Co Ltd., according to a Mint report which did not name sources.
This is in keeping with the policy of Finance Minister Nirmala Sitaraman to sell off strategic and non-strategic sectors. Mint reported that SBI Capital Markets Ltd sent a divestment proposal to the department of investment and public asset management (DIPAM). The government is trying to raise funds of Rs.1.75 crore in FY 2022 by divesting in various sectors. A BHEL spokesperson told Mint, “As you should be aware, the disinvestment exercise of any PSU (Public Sector Undertaking) is the prerogative of the government.”
BHEL is the largest manufacturer of power generation equipment while Andrew Yule and Company Ltd. handles various businesses including electricity and tea. MECON Ltd. businesses include metal, gas and oil.
