Divestment of Air India, BPCL to be postponed
NEW DELHI: The spread of Coronavirus, volatile market situations and dip in the global crude oil prices has forced the government to put its major divestment plans, including Air India and BPCL and Shipping Corporation of India, on the back seat.
According to the finance ministry, as there is fear of recession in the aviation sector mainly on account of the virus spread, this is not the best time to invite bids. Even large businesses are witnessing this epidemic closely. So, the government is likely to extend the deadline submission of preliminary bids for Air India from April 30 from June 1.
