Government To Complete Air India, Bharat Petroleum Disinvestment In 2021-22

Government is aiming to complete privatisation of Air India and Bharat Petroleum Corporation Limited (BPCL) during the current financial year.

Government To Complete Air India, Bharat Petroleum Disinvestment In 2021-22

Government plans to complete disinvestment of Air India, Bharat Petroleum by this financial year

The government is aiming to complete privatisation of public carrier Air India and State-owned refiner Bharat Petroleum Corporation Limited (BPCL) during the current financial year, a senior Finance Ministry official said on Wednesday.

Addressing the annual session of industry body Confederation of Indian Industry (CII), Secretary in the Department of Investment and Public Asset Management (DIPAM), Tuhin Kant Pandey said that the government has also received a lot of interest from prospective bidders on Shipping Corporation of India, Pawan Hans and Neelachal Ispat Nigam Limited.

"We are now at the second stage of due diligence and financial bidding, which we will be able to complete in this financial year," said Mr Pandey.

He said IDBI Bank's strategic disinvestment has also been set into motion with the Cabinet approval. The expression of interest is expected for Container Corporation of India (CONCOR) as soon as the land lease policy is finalised.

"The government is working on a Rs 6 lakh crore asset monetisation plan that will include pipelines of Power Grid Corporation of India and national highways," he informed further, adding that the monetisation plan covers all sorts of assets from power lines to national highways.

The Secretary said that tenders for developing railway stations through the public private partnership (PPP) route, too have been announced.

The asset monetisation programme of the Centre is aimed at generating funds by leasing public assets to private bodies for a specific period of time.

Even sports grounds and stadia like the iconic Jawaharlal Nehru Stadium in the national capital are also be monetised under this programme.