An Inter-Ministerial Group (IMG) has recommended asset monetisation proposals worth over Rs 1,100 crore for consideration and approval by the Cabinet-delegated Alternative Mechanism (AM), as part of the government’s efforts to unlock the value of surplus public assets.
The IMG, chaired by the Secretary of the Department of Public Enterprises (DPE) and co-chaired by the Secretary of the Department of Telecommunications (DoT), reviewed proposals primarily involving surplus land and building assets of Central Public Sector Enterprises (CPSEs).
The recommendations are aimed at facilitating the productive use of surplus and underutilised public assets while generating economic value for government entities.
The proposals will now be placed before the Cabinet-delegated Alternative Mechanism for consideration and approval. Following the necessary clearances, monetisation activities will be undertaken in accordance with prescribed procedures.
The initiative forms part of the government’s broader asset monetisation programme, which seeks to help CPSEs and other government entities realise the economic potential of surplus assets through systematic assessment, professional transaction preparation and competitive price discovery.
The National Land Monetization Corporation (NLMC), the government’s specialised agency for monetising surplus land and other non-core assets, plays a key role in facilitating the process.
Working with concerned ministries, departments and asset-owning entities, NLMC undertakes asset assessment, due diligence, valuation, transaction structuring and market-oriented monetisation activities.
The government aims to improve public asset management, ensure transparency in monetisation and maximise the value of surplus assets to support investment and economic development.
NLMC is a wholly owned Government of India company under the administrative control of the Department of Public Enterprises, Ministry of Finance.
Established following an announcement in the Union Budget 2021-22, the corporation facilitates the monetisation of surplus land and other non-core assets of CPSEs and government entities through professional transaction advisory services, due diligence, valuation and competitive monetisation processes.
-PIB
