Govt has not formulated any scheme for disinvestment of steel plants: Dharmendra Pradhan

The Union government has ruled out any any specific scheme for the disinvestment of steel plants in the country.

Replying to a set of questions in Lok Sabha Union Minister of Petroleum, Natural Gas and Steel Dharmendra Pradhan in a written reply has stated that, “The Government has not formulated any specific scheme for the disinvestment of steel plants. However, the government has recently introduced new Public Sector Enterprise (PSE) policy for Atmanirbhar Bharat, which contains details including scope, classification and procedure etc. for future disinvestments.”

Replying further the union minister added,” As per the policy, steel production falls in non-strategic sector. The revenue / disinvestment proceeds expected to be generated from disinvestment of steel plants cannot be assessed at this stage as it is dependent on the market conditions and investor interest at the time of the transaction.”

In a separate query,” on whether the Government has any proposal to set up new steel plants?” to which the minister said,” Steel is a de-regulated sector. Setting up of new steel Plants is the commercial decision of the individual company both public as well as private sector, based on market dynamics.”
Source: Live Mint