The Department of Investment and Public Asset Management (DIPAM) has entered into an agreement with the World Bank to provide advisory services to the former for asset monetization. In a release, the Finance Ministry said, "DIPAM is mandated with facilitating monetization of non-core assets of government CPSEs under strategic disinvestment or closure and enemy property of a value of Rs100cr and above. DIPAM has a framework for monetizing non-core assets."
The advisory project is approved by Finance Minister Nirmala Sitharaman and is aimed at analyzing public asset monetization in India and benchmarking its institutional and business models against international best practices as well as supporting the development of operational guidelines and capacity building for their implementation, as per the ministry's statement.
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.
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