Kicking off the exercise of selling non-core assets, the Department of Investment and Public Asset Management (DIPAM) issued a tender to sell six assets of Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) through its new asset monetization portal. .
“The monetization of non-core assets (sic) begins with the first set of six BSNL / MTNL properties on the MSTC portal,” tweeted DIPAM secretary Tuhin Kanta Pandey.
The government plans to sell plots of land worth over Rs 600 crore in the first phase through the new online auction platform, Business Standard reported earlier. This will be the first sale of assets through the new online auction platform developed by state-owned MSTC.
The sale of non-core assets such as plots of land or real estate over Rs 100 crore is handled by DIPAM and is similar to the core asset pipeline created for monetization by NITI Aayog. The idea is to use the unused land plots of public entities and realize their value. The effort aligns with the National Monetization Pipeline (NMP) – where the government aims to monetize underutilized assets), but would only include non-core assets. Unlike the NMP, in the event of the sale of land from the PSUs, the ownership of the assets will be transferred.
The government is seeking to monetize plots of land worth Rs 10,000 crore through the new electronic auction platform, Business Standard reported earlier. The land asset pipeline was prepared after discussions with consultants appointed by DIPAM, which include CBRE South Asia, Deloitte Touche Tohmatsu India, Boston Consulting Group, JLL Property Consultants (India), Knight Frank India, among others.