Friday, August 13, 2021

India aims to complete stake sale in Air India this year

Indian government is hoping to complete stake sales in Air India, BPCL along with some other identified state-run companies in the current financial year, Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey said.

It will also float the expression of interest for stake sale in logistics firm Concor after the finalisation of the land lease policy, he said during a CII summit.

Besides, the government is expecting a Rs 500 billion (£4.8bn) in dividends from public sector companies this fiscal, and is working on a Rs 6 trillion (£58.5bn) asset monetisation plan.

“The disinvestment agenda has been put on fast track through the unveiling of the new PSE (public sector enterprises) policy, notified on February 4, 2021, which is expected to be an important policy for the next five years and will result in increase in privatisation in the economy” Pandey said.

As mentioned in India’s Union Budget document, major disinvestments in pipeline this year include Air India, BPCL, Shipping Corporation of India, BEML, Pawan Hans and Neelachal Ispat Nigam.

13/08/21 Shilpa Sharma/Eastern Eye

To Read the News in full at Source, Click the Headline


Post a Comment