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Centre allows all firms to take part in strategic disinvestment of EPIL

Indivjal Dhasmana/New Delhi 14 Feb 19 | 01:12 AM

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The Cabinet modified the earlier decision of its Committee on Economic Affairs allowing all companies to take part in the strategic disinvestment of Engineering Projects (India) Limited (EPIL).

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In October 2016, the committee had given an in-principle approval for strategic disinvestment of 100 per cent shareholding in EPIL through merger with similarly placed central public sector entities. An official statement said the modification would promote competition in the bidding process and may result in higher yield. 

The proposed strategic disinvestment of EPIL would unlock resources to be used to finance the social sector, developmental programmes of the government, the statement said. “The strategic buyer will bring in funds, technology and/or new management practices for the optimum development of business and growth of the company, which may generate more employment opportunities," it said.


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