Indian govt line up PSUs for stakes sale |
The Indian government is getting set for a series of divestments — lining up strategic sales in four blue¬chip, state¬ run companies and its embattled national carrier, Air India. A group of secretaries on Monday cleared strategic sales in Bharat Petroleum Corp. Ltd, BEML, Container Corporation of India (Concor) and Shipping Corporation of India (SCI). Stake sales in THDC India and Neepco, both power companies, have also been approved. These could possibly be taken over by state¬ run NTPC. The Air India expression of interest paperwork is also likely to be finalised and issued soon, setting in motion the formal process for the state¬ owned airline`s sale. Stake sales in these state¬ owned firms have been put on the fast track. The government proposes to raise 14.8 billion dollars from disinvestment in the current financial year. It had exceeded asset¬ sale targets of 14.1 billion dollars in FY18 and 11.3 billion dollars in FY19. The Air India EoI with all relevant details for investors is in the process of being finalised and could be cleared by the special mechanism headed by home minister Amit Shah over the next fortnight. About 4.2 billion dollars debt in Air India would be taken over by the government. The EoI would provide completely clarity to investors.
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