An Inter-Ministerial Group (IMG) has recommended asset monetisation proposals involving surplus land and building assets of Central Public Sector Enterprises (CPSEs), valued at over Rs 1,100 crore, for consideration and approval by the Cabinet-delegated Alternative Mechanism (AM), the Ministry of Finance said on Thursday, November 5, according to the Press Information Bureau release issued at 1:16 p.m. The recommendations mark progress in the government's efforts to unlock value from surplus and underutilised public assets and put them to productive use, ANI reported.

Source: PIB via Technology For You

The IMG is chaired by the Secretary, Department of Public Enterprises (DPE), and co-chaired by the Secretary, Department of Telecommunications (DoT), and it reviews asset monetisation initiatives including those facilitated by the National Land Monetization Corporation (NLMC), the ministry said. The NLMC is a wholly owned Government of India company under the DPE's administrative control, and works with ministries, departments and asset-owning entities on asset assessment, due diligence, valuation, transaction structuring and market-facing monetisation processes, ANI reported.

Source: ANI via Indian Economic Observer

The process involves systematic assessment of assets, professional preparation of transactions and competitive price discovery, the ministry said, describing the recommendations as a sign of growing momentum in the asset monetisation programme, which aims to help public sector enterprises and other government entities realise the economic value of surplus assets.

Source: ANI via Indian Economic Observer

What happens next: the recommended proposals will be placed before the Cabinet-delegated Alternative Mechanism for consideration and approval, following which further monetisation activities will be undertaken as per prescribed procedures, the ministry said. No individual CPSE assets were named in Thursday's release.

Source: PIB via Technology For You