DIPAM signed agreement with World Bank for advisory services on asset monetization

Department of Investment and Public Asset Management (DIPAM) signed an agreement with World Bank. Under the agreement, World Bank is to provide advisory services to DIPAM for asset monetization.

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Key-Points

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.

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.

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.

The Department of Disinvestment was set up as a separate Department on 10th December, 1999 and was later renamed as Ministry of Disinvestment form 6th September, 2001.

From 27th May, 2004, the Department of Disinvestment is one of the Departments under the Ministry of Finance.

The Department of Disinvestment has been renamed as Department of Investment and Public Asset Management (DIPAM) from 14th April, 2016.