Disinvestment of AI Engineering Services likely in 2023-24

The government is likely to complete the disinvestment of AI Engineering Services and AI Airport Services, engineering and ground handling units of the erstwhile national carrier Air India, in the financial year 2023-24, sources said.

According to an official source, the disinvestment process of AI Engineering Services Limited is in an advanced stage. The proposal has already been approved by a group of secretaries and the next stage is the approval by the government’s alternative mechanism on strategic disinvestment.

The alternative mechanism is essentially a group of ministers empowered to take certain decisions on behalf of the cabinet. It consists of Finance Minister Nirmala Sitharaman, Road Transport and Highways Minister Nitin Gadkari and ministers representing respective administrative departments.