NEW DELHI: In a first, the government has sold 'enemy properties' worth ₹1,874 crore in April, as it seeks to fast-track the sale process of such assets to meet the ₹90,000-crore disinvestment target set for the current fiscal. The government has mopped up ₹2,350 crore as the disinvestment proceeds in the first month of 2019-20, of which, ₹476 crore was on account of IPO of Rail Vikas Nigam Ltd (RVNL) and ₹1,874 crore from the sale of 'Enemy Property', according to data on the DIPAM website. Thereafter in March 2019, the Cabinet cleared the mechanism for monetisation of immovable 'enemy property' assets held under the custody of the Custodian of Enemy Property for India (CEPI). The final approval for sale of such assets is given by a ministerial panel headed by the finance minister. In the previous financial year, the government mopped up ₹84,972 crore from disinvestment, including sale of 'enemy shares' worth ₹779 crore.

Source: Mint April 30, 2019 09:45 UTC