Defence PSU disinvestment: Govt to sell stake in BEML, Garden Reach Shipbuilders & Mishra Dhatu Nigam

Monday, 8 February 2021 (20:15 IST)
New Delhi: The Narendra Modi government will sell its stake in three defence public sector undertakings -- BEML Ltd, Garden Reach Shipbuilders & Engineers Ltd and Mishra Dhatu Nigam Ltd.

This information was tabled in a written reply by Minister of State for Defence Shripad Naik to a question asked by K K Ragesh in Rajya Sabha on Monday.

“Defence Public Sector Undertakings set for disinvestment are BEML Ltd, Garden Reach Shipbuilders & Engineers Limited (GRSE) and and Mishra Dhatu Nigam Limited (MIDHANI),” Naik said.

The government as per its strategic disinvestment policy seeks to privatise or shut down CPSUs in non-strategic sectors and wants to have minimum presence of public sector enterprises in strategic sectors.

“Policy of disinvestment of minority stake without transfer of management control is being followed for priority sector including defence CPSUs to unlock value, promote public ownership, to meet the minimum public shareholding norms of SEBI and for ensuring higher degree of accountability,” the minister added.

BEML is present in defence and aerospace, mining and construction, and rail and metro businesses, while GRSE primarily caters to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard. 

MIDHANI produces super alloys, special steel, armour products, among others.

Defence, along with atomic energy and space, is classified as one of the strategic sectors in the disinvestment policy. (UNI)

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