New Delhi, Nov 5 (SocialNews.XYZ) The government on Thursday said the Inter-Ministerial Group (IMG) has recommended asset monetisation proposals involving assets valued at over Rs 1,100 crore for consideration and approval by the Alternative Mechanism (AM).
The proposals primarily relate to surplus land and building assets of Central Public Sector Enterprises (CPSEs) identified for monetisation.
The recommendations mark an important milestone in the Government of India's efforts to unlock value from surplus and underutilised public assets and facilitate their productive utilisation, according to a Finance Ministry statement.
The IMG was chaired by the Secretary, Department of Public Enterprises (DPE), and co-chaired by the Secretary, Department of Telecommunications (DoT).
The initiative reinforces the government’s commitment to efficient public asset management, transparent and value-maximising monetisation, and productive utilisation of surplus assets to support investment and economic development.
The recommended proposals will be placed before the Cabinet-delegated Alternative Mechanism for consideration and approval. Following the requisite approvals, further monetisation activities will be undertaken in accordance with prescribed procedures.
The recommendations reflect the growing momentum of the Government's asset monetisation programme, which seeks to enable CPSEs and other Government entities to realise the economic potential of surplus assets through systematic assessment, professional transaction preparation and competitive price discovery.
The National Land Monetization Corporation (NLMC) is a wholly ownedGovernment of India company under the administrative control of the Department of Public Enterprises, Ministry of Finance.
Established pursuant to the Union Budget 2021–22 announcement, NLMC facilitates the monetisation of surplus land and other non-core assets of CPSEs and Government entities through professional transaction advisory, due diligence, valuation and transparent, competitive monetisation processes.
As the government's specialised institution for monetisation of surplus land and other non-core assets, NLMC plays a key role in facilitating asset assessment, due diligence, valuation, transaction structuring and market-facing monetisation processes, working closely with concerned Ministries, Departments and asset-owning entities.
Source: IANS
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