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Ministry of Defence plans to decrease shareholding in Defence Public Sector Undertakings English.Lokmat.com

Ministry of Defence plans to decrease shareholding in Defence Public Sector Undertakings

The Ministry of Defence on Monday informed that it is planning to decrease shareholding in Defence Public Sector Undertakings (DPSUs).
Ministry of Defence plans to decrease shareholding in Defence Public Sector Undertakings

The Ministry of Defence on Monday informed that it is planning to decrease shareholding in Defence Public Sector Undertakings (DPSUs).

"The Government is planning to decrease shareholding in Defence Public Sector Undertakings (DPSUs) namely, BEML Limited, Garden Reach Shipbuilders and Engineers Limited (GRSE) and Mishra Dhatu Nigam Limited (MIDH). The completion of a transaction depends on market conditions. Therefore, it is not possible to predict a timeline," read the release by the Ministry.

The policy of disinvestment of minority stake without transfer of management control is being followed for priority sector including defence to unlock value, promote public ownership, meet the minimum public shareholding norms of SEBI and for ensuring a higher degree of accountability.

This information was tabled in a written reply by Raksha Rajya Mantri Shripad Naik to a question asked by Dr Santanu Sen in Rajya Sabha today.

( With inputs from ANI )

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