The proposals primarily cover surplus land and building assets owned by Central Public Sector Enterprises (CPSEs) that have been identified for monetisation, the Ministry of Finance said on November 5.
The IMG, chaired by the Secretary of the Department of Public Enterprises (DPE) and co-chaired by the Secretary of the Department of Telecommunications (DoT), reviewed the proposals before recommending them to the Alternative Mechanism.
The proposals will now be placed before the Cabinet-delegated panel for consideration and approval. Further monetisation activities will be undertaken after obtaining the necessary clearances and following the prescribed procedures.
Through this initiative, the government aims to unlock the economic potential of surplus and underutilised public assets through systematic assessment, professional transaction preparation and competitive price discovery.
The National Land Monetisation Corporation (NLMC), a wholly owned government company under the administrative control of the DPE, is playing a key role in facilitating the process.
NLMC provides assistance to CPSEs and government entities in assessing assets, conducting due diligence, valuation, transaction structuring and market-facing monetisation activities.
Established following its announcement in the Union Budget 2021-22, NLMC serves as the government's specialised institution for monetising surplus land and other non-core assets belonging to CPSEs and government entities.
The initiative is aimed at improving public asset management and ensuring transparent transactions that maximise asset value. It also seeks to put underutilised government assets to productive use, supporting investment and economic development. The latest proposals worth over Rs 1,100 crore mark another step in the government's efforts to advance this asset monetisation process, subject to the required approvals and clearances.
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