Lockdown: Delays likely in PSU selloff

The lockdown has proved to be a drag on the disinvestment process. The limitations of working in a virtual environment may force the government to extend the deadline for the submission of expressions of interest (EoIs) in the case of some PSUs that have been put on the block.

“To a great extent, Covid-19 has put a brake to this (disinvestment exercise) as several processes are involved. We may have to grant an extension to the deadline for the EoIs in some cases,” Tuhin Kanta Pandey, secretary in the disinvestment department, said at the Ficci conference.

He said although virtual communication plays a major role, there are several aspects that require the physical movement of people and checking of documents. These have come to a halt now and the strategic disinvestment process generally takes 8-9 months.