The government has set aggressive disinvestment goals for nearly 23 PSUs, like Air India and BPCL, this year, coronavirus has placed a wrench in the same direction.
Govt is handling its budgets in the shorter term. Finally, even such PSUs will be strategically discarded. It’s a very great move in the right direction. The sector is always waiting and seeing how the entire process gets moving. Thus far, this administration has had no record of divesting.
Finance Minister Nirmala Sitharaman declared that the government should allow private investment in all sectors under Prime Minister Narendra Modi’s Atma Nirbhar Bharat programme, although the finance ministry had to postpone the deadline for its showpiece privatization companies Air India and BPCL on Wednesday.
The deadline for bidding on BPCL was expanded to 30 September, Air India to 31 August. Bidders can apply an expression of interest (EOI) for sale in Air India by 30 September. The latest deadline for bidding on Air India’s shareholding has also been expanded to 30 August.
This year, Air India has declared that the government will sell 100% of its shares, despite struggling to obtain a counterpart in Air India with its previous plans of selling 76%. The EoI deadline in Central Electronics Ltd has been updated other than that of Air India and BPCL.
