Disinvested Units

1. Punjab Tractors Ltd: The Council of Minister vide its decision in June 2002 decided that PSIDC's 23.49% shareholding in PTL may be disinvested. Accordingly, Expressions of Interest were invited by 5.1.2003 and technical & financial bids were invited by 25.7.2003. After following the procedure laid down, disinvestment has been carried out in favour of M/S CDC at a rate of Rs. 153/- per share amounting to Rs. 218.00 crore.
Share Purchase Agreement was executed on 30.7.2003. Preliminary closing took place on 12.9.2003 after receipt of FIPB & RBI approvals and Final Closing took place on 5.12.2003.

2. Punjab Tourism Development Corporation:

  1. Ten Tourist Complexes of Punjab Tourism Development Corporation at Pathankot, Kapurthala, Moga, Madhopur, Sanghol, Shambhu, Jalandhar, Neelon, Hosiarpur and Amritsar has been disposed off.
  2. Government had decided not to further disinvest the remaining Tourist Complexes of Punjab Tourism Development Corporation and also decided that these Complexes/Units may be transferred to the Department of Tourism, Punjab

3. A decision to liquidate The Punjab State Cooperative Spinning Mills Federation Ltd. (SPINFED) was taken on 30.4.2003. VRS given to all the employees and Coop. Spg. Mills at Goindwal, Kotkapura & Tappa has been disposed off finally. The plant & Machinery of Bathinda and Abohar Coop. Spg. Mills has been disposed but the land of these Coop. Spg. Mills is yet to be disposed off.