Department of Investment and Public Asset Management (DIPAM) has signed an agreement with World Bank on 16 November 2020.
Under the agreement, World Bank is to provide advisory services to DIPAM for Asset Monetization.Union Secretary DIPAM Tuhin Kanta Pandey coordinated the efforts, officials say.
DIPAM is mandated with facilitating monetization of non-core assets of government CPSEs under strategic disinvestment or closure and enemy property of value of INR 100 crores and above. DIPAM has a framework for monetizing non-core assets, officials say.
The World Bank advisory project, approved by the Finance Minister, is aimed at analyzing public asset monetization in India and benchmarking its institutional and business models against international best practices as well as supporting development of operational guidelines and capacity building for their implementation.
It is expected that this project would facilitate and accelerate the non-core asset monetization process and help unlock the value of these un-used/ marginally used assets which has the potential to substantially augment financial resources for further investments and growth.