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Disinvestment plan is on track, says Dipam secy
If successful, it would be the first such privatization after 17 years, department of investment and public asset management (Dipam) secretary Tuhin Kanta Pandey said.
The government plans to privatize at least one central public sector enterprise (CPSE) this fiscal year, a senior government official said on Wednesday, underscoring a resumption of the disinvestment programme stalled due to the pandemic.
If successful, it would be the first such privatization after 17 years, department of investment and public asset management (Dipam) secretary Tuhin Kanta Pandey said.
“It is much easier to do a market transaction and much more difficult to do a strategic sale where the bidder would actually take control of the company. So, the due diligence process is extremely rigorous,” he said while speaking at the annual session of Confederation of Indian Industry (CII).
“We intend to do Air India privatization this year. BPCL privatization, we want to complete this year. After 17 years, the country will actually see a privatization, the last one happened in 2003-04 in the NDA,” he said.
Pandey said he is hopeful of completing the privatization of Shipping Corporation of India, BEML, Pawan Hans and Neelachal Ispat Nigam Ltd that have also garnered sufficient interest from potential bidders.
