Lok Sabha Question No. 3184 (UNSTARRED), answered on 2018-01-05
Subject: Retrenched Employees of Disinvested PSUs
Ministry: FINANCE
Asked by: George Baker

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## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF INVESTMENT AND PUBLIC ASSET MANAGEMENT

## LOKSABHA UNSTARRED QUESTION NO. 3184 TO BE ANSWERED ON FRIDAY, 5 TH JANUARY, 2018 PAUSHA 15, 1939 (SAKA)

## Retrenched Employees of Disinvested PSUs

## 3184. SHRI GEORGE BAKER

Will the Minister of FINANCE be pleased to state:

- (a) the number of Public Sector Undertakings (PSUs) disinvested during the last three years and the current year across the country, state/UT-wise including in West Bengal;
- (b) whether the Government is planning to disinvest some more PSUs in West Bengal;
- (c) if so, the details thereof and the reasons therefor; and
- (d) the details of steps taken/being taken by the Government for making avenues of employment for the retrenched employees of such disinvested PSUs?

## ANSWER

## THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI PON. RADHAKRISHNAN)

- (a): Details of disinvestment in Central Public Sector Enterprises (CPSEs) through minority stake sale (IPO/OFS) in the last three years and current financial year are provided in the Annexure.
- (b) & (c): As a part of the strategy to keep shares readily available for transaction to take advantage of market conditions without any loss of time, the Government has identified certain CPSEs, including those in West Bengal, for minority stake sale in sectors like mineral & metal, oil & energy, capital goods as well as some mid-size and small stocks.

Government has given 'in-principle' approval for strategic disinvestment of 24 CPSEs/Units of CPSEs, including Bridge & Roof Company (India) Limited, Kolkata, West Bengal. However, after completion of the process, specific approval of Government will be sought in each case.

Disinvestment of Government's shareholding through listing and minority stake sale in CPSEs is undertaken to unlock the true value of company, promote public ownership and higher degree of accountability. In case of strategic disinvestment of CPSEs, it is expected that the strategic buyer will bring in funds/technology/new management etc. for the optimum development of business potential and growth of the companies. Post strategic disinvestment, the growth in companies would be able to generate higher economic activity.

(d): The terms and conditions of the strategic sale suitably address employees' concerns in the Share Purchase Agreement (SPA) / Share Holders Agreement (SHA) to be signed by the Government with the Strategic buyer.

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## Annexure

## Annexure as referred to in reply to part (a) ofLok Sabha Unstarred Question No. 3184 for answer on 5 th January, 2018

## Financial Year 2014-15

|   SI. No. | NameofCPSE                                              | CorporatelRegistered Office   |
|-----------|---------------------------------------------------------|-------------------------------|
|         1 | Steel Authority of India Ltd. (SAIL)                    | New Delhi                     |
|         2 | Coal India Ltd.(CIL)                                    | Kolkata, West Bengal          |
|         3 | National Fertilizers Ltd. (NFL)                         | Noida, Uttar Pradesh          |
|         4 | National Thermal Power Corporation Ltd. (NTPC)          | New Delhi                     |
|         5 | Metals and Minerals Trading Corporation of India (MMTC) | New Delhi                     |
|         6 | Hindustan Copper Ltd. (HCL)                             | Kolkata, West Bengal          |
|         7 | National Aluminium Company Ltd. (NALCO)                 | Bhubaneshwar, Odisha          |
|         8 | National Mineral Development Corporation Ltd. (NMDC)    | Hyderabad, Telangana          |

## Financial Year 2015-16

|   SI. No. | NameofCPSE                                     | Corporate/Registered Office    |
|-----------|------------------------------------------------|--------------------------------|
|         1 | Rural Electrification Corporation Ltd. (REC)   | New Delhi                      |
|         2 | Power Finance Corporation Ltd. (PFC)           | New Delhi                      |
|         3 | Dredging Corporation oflndia Ltd.(DCIL)        | Vishakhapatnam, Andhra Pradesh |
|         4 | Indian Oil Corporation Ltd. (lOC)              | New Delhi                      |
|         5 | Engineers India Ltd. (ElL)                     | New Delhi                      |
|         6 | National Thermal Power Corporation Ltd. (NTPC) | New Delhi                      |
|         7 | Container Corporation of India Ltd. (CONCOR)   | New Delhi                      |

## Financial Year 2016-17

|   SI. No. | NameofCPSE                                           | NameofCPSE                                           | Corporate/Registered Office   |
|-----------|------------------------------------------------------|------------------------------------------------------|-------------------------------|
|         1 | National Hydroelectric Power Corporation Ltd. (NHPC) | National Hydroelectric Power Corporation Ltd. (NHPC) | Faridabad, Haryana            |
|         2 | Indian Oil Corporation Ltd. (IOC)                    | Indian Oil Corporation Ltd. (IOC)                    | New Delhi                     |
|         3 | National Thermal Power Corporation Ltd. (NTPC)       | National Thermal Power Corporation Ltd. (NTPC)       | New Delhi                     |
|         4 | Hindustan Copper Ltd. (HCL)                          | Hindustan Copper Ltd. (HCL)                          | Kolkata, West Bengal          |
|         5 | National Buildings Construction Corporation Ltd.     | (NBCC)                                               | New Delhi                     |

| 6.   | Engineers India Ltd. (ElL)                           | New Delhi                      |
|------|------------------------------------------------------|--------------------------------|
| 7.   | National Hydroelectric Power Corporation Ltd. (NHPC) | Faridabad, Harvana             |
| 8.   | Dredging Corporation of India Ltd. (DCIL)            | Vishakhapatnam, Andhra Pradesh |
| 9.   | Container Corporation of India Ltd. (CONCOR)         | New Delhi                      |
| 10.  | CPSE-Exchange Traded Fund (ETF)                      | --                             |
| II.  | Manganese Ore (India) Ltd. (MOIL)                    | Nagpur, Maharashtra            |
| 12.  | Bharat Electronics Ltd. (BEL)                        | Bengaluru, Karnataka           |
| 13.  | CPSE-Exchange Traded Fund (ETF)                      | --                             |

## Financial Year 2017-18

| SI. No.   | Name ofCPSE                                         | Corporate/Registered Office   |
|-----------|-----------------------------------------------------|-------------------------------|
| 1.        | Hindustan Copper Ltd. (HCL)                         | Kolkata, West Bengal          |
| 2.        | National Aluminium Company Ltd. (NALCO)             | Bhubaneshwar, Odisha          |
| 3.        | Housing & Urban Development Corporation Ltd (HUDCO) | New Delhi                     |
| 4.        | Rashtriya Chemicals and Fertilizers Ltd. (RCFL)     | Mumbai, Maharashtra           |
| 5.        | National Fertilizers Ltd. (NFL)                     | Noida, Uttar Pradesh          |
| 6.        | Hindustan Copper Ltd. (HCL)                         | Kolkata, West Bengal          |
| 7.        | Cochin Shipyard Ltd. (CSL)                          | Cochin, Kerela                |
| 8.        | National Thermal Power Corporation Ltd. (NTPC)      | New Delhi                     |
| 9.        | Bharat Electronics Ltd. (BEL)                       | Bengaluru, Karnataka          |
| 10.       | National Thermal Power Corporation Ltd. (NTPC)      | New Delhi                     |
| 11.       | Neyveli Lignite Corporation Ltd. (NLC)              | Cuddalore, Tamil Nadu         |
| 12.       | Hindustan Copper Ltd. (HCL)                         | Kolkata, West Bengal          |
| 13.       | National Aluminium Company Ltd. (NALCO)             | Bhubaneshwar,Odisha           |
| 14.       | Bharat 22                                           | --                            |
| IS.       | General Insurance Corporation of India (GIC)        | Mumbai, Maharashtra           |
| 16.       | National Insurance Company Ltd. (NIA)               | Mumbai, Maharashtra           |