CABINET-LD PSU 2 LAST

\ Jaitley further said the valuation of the PSUs up for Jaitley further said the valuation of the PSUs up for\strategic sale will also take into account immovable property\and other assets.\ NITI Aayog has prepared a list of public sector units\where the government can sell its majority stake to private\companies in order to bring in greater efficiency and\professionalism in their functioning.\ The last strategic sale took place in Jessop and Co in\2003-04 under the NDA government headed by Prime Minister Atal\Bihari Vajpayee, when 72 per cent of government stake was sold\to Indo Wagon Engineering for Rs 18.18 crore.\ Incidentally, the first strategic sale in a PSU also\happened under NDA rule in 1999-2000 when the government sold\74 per cent equity in Modern Food Industries to Hindustan\Lever for Rs 105.45 crore.\ During 1999-2000 and 2003-04, the government had\strategically divested stake in 16 PSUs, garnering Rs 6,344.35\crore. These included sale of fuel retailer IBP Ltd to\state-owned Indian Oil Corp (IOC) for Rs 1,153.68 crore.\ Indian Petrochemicals Corp Ltd (IPCL) was sold to\Reliance Industries for Rs 1,490.84 crore, Videsh Sanchar\Nigam Ltd to Tata Group firm for Rs 1,439.25 crore and\Hindustan Zinc Ltd to Vedanta Group for a total consideration\of Rs 768.88 crore. PTI JD\SA\