The federal government plans to denationalize a minimum of one central public sector enterprise (CPSE) this fiscal 12 months, a senior authorities official stated on Wednesday, underscoring a resumption of the disinvestment program stalled because of the pandemic.
If profitable, it will be the primary such privatization after 17 years, division of funding and public asset administration (Dipam) secretary Tuhin Kanta Pandey stated.
“It’s a lot simpler to do a market transaction and way tougher to do a strategic sale the place the bidder would truly take management of the corporate. So, the due diligence course is extraordinarily rigorous,” he stated whereas talking on the annual session of the Confederation of Indian Trade (CII).
“We intend to do Air India privatization this 12 months. BPCL privatization, we need to full this 12 months. After 17 years, the nation will truly see privatization, the final one occurred in 2003-04 within the NDA,” he stated.
Pandey stated he’s hopeful of finishing the privatization of Transport Company of India, BEML, Pawan Hans, and Neelachal Ispat Nigam Ltd which have additionally garnered ample curiosity from potential bidders.