IMG Recommends Asset Monetisation Proposals Worth Over Rs 1,100 Crore For Approval

New Delhi, Nov 5 (KNN) The Inter-Ministerial Group (IMG) has recommended asset monetisation proposals involving assets valued at over Rs 1,100 crore for consideration by the Cabinet-delegated Alternative Mechanism.

The proposals primarily cover surplus land and building assets of Central Public Sector Enterprises (CPSEs) identified for monetisation.

The IMG is chaired by the Secretary, Department of Public Enterprises, and co-chaired by the Secretary, Department of Telecommunications.

The proposals will be placed before the Alternative Mechanism for consideration and approval. Further monetisation activities will be undertaken after the required approvals.

The National Land Monetization Corporation (NLMC) is facilitating the process through asset assessment, due diligence, valuation and transaction structuring, in coordination with concerned ministries, departments and asset-owning entities.

NLMC is a wholly owned Government of India company under the administrative control of the Department of Public Enterprises, Ministry of Finance. It facilitates monetisation of surplus land and other non-core assets of CPSEs and government entities.

(KNN Bureau)