The central government has approved the setting up of the National Land Monetisation Corporation (NLMC) that will undertake the work of monetisation of surplus land and building assets of Central Public Sector Enterprises. The new Corporation will come under the Ministry of Finance.
The NLMC will undertake monetisation of surplus land and building assets of Central Public Sector Enterprises (CPSEs) and other Government agencies. With the monetisation of non-core assets, Government would be able to generate substantial revenues by monetizing unused and under-used assets.
“At present, CPSEs hold considerable surplus, unused and under-used non-core assets in the nature of land and buildings. For CPSEs undergoing strategic disinvestment or closure, monetisation of these surplus land and non-core assets is important to unlock their value. NLMC will support and undertake monetisation of these assets,” the Ministry of Finance said in a statement.
“This will also enable productive utilisation of these under-utilised assets to trigger private sector investments, new economic activities, boost the local economy and generate financial resources for economic and social infrastructure,” it said. The NLMC is also expected to own, hold, manage and monetise surplus land and building assets of CPSEs under closure and the surplus non-core land assets of Government-owned CPSEs under strategic disinvestment.
This will speed up the closure process of CPSEs and smoothen the strategic disinvestment process of Government-owned CPSEs.
Discussion about this post