The Centre is planning to conclude stake sales in Computer Electronics Ltd and Steel Authority of India by the end of the current financial year, the Economic Times reported citing government sources. The revised estimate of proceeds from disinvestment of equity in public sector enterprises is pegged at Rs 32,000 crore in FY21, down from the more than Rs 2 lakh crore announced in the Union budget last year.
The strategic sale of SAIL’s Visvesvaraya Iron & Steel Plant in Bhadrawati, Karnataka, and Salem Steel Plant in Salem, Tamil Nadu, have been hanging fire for the past couple of years. The Cabinet had granted in-principle approval to fully divest government ownership and give management control of the two lossmaking plants in 2016, while the expressions of interest were issued in 2018. The response to the proposals has been lukewarm, which was further dampened by the pandemic that impacted the government’s overall divestment plan.
Central Electronics Ltd is a CPSE under the Department of Science and Technology. Last year, it was decided that the government would sell 100 per cent of its stake in CEL through strategic disinvestment with transfer of management control.
CEL is a pioneer in the country in the field of Solar Photovoltaic (SPV) with the distinction of having developed India's first Solar cell in 1977 and first Solar panel in 1978 as well as commissioning India's first solar plant in 1992.
More recently, it has developed and manufactured the first crystalline flexible solar panel especially for use on the passenger train roofs in 2015.
In the SWOT analysis of the CPSE, DIPAM has stated under weakness that "the company has weak financial loss due to past losses, high manufacturing cost and non payment of dues by state nodal agencies affecting the financial position of the company".
