Sale of ‘enemy shares’, buybacks by CPSEs yield Rs. 11,300 cr in FY’19

Sale of ‘enemy shares’ and buyback of stocks by CPSEs have together yielded the government over Rs 11,300 crore, thus helping the exchequer mop up Rs 85,000 crore from disinvestment in the current fiscal — the second highest receipt ever.

The government has garnered Rs 700 crore through the first ever sale of ‘enemy shares’ after the Cabinet in November 2018 gave its go-ahead to the Department of Investment and Public Asset Management (DIPAM) to sell such shares held in companies.

Enemy property refers to the assets left behind by people who migrated to Pakistan or China and are no longer citizens of India.

Besides, over Rs 10,600 crore has come in from buyback of government shares by Central Public Sector Enterprises (CPSEs).

In 2018-19, the government for the second time in a row exceeded the disinvestment target by mopping up Rs 85,000 crore as against the budget estimate of Rs 80,000 crore.