Privatisation of PSUs back on track after COVID-induced setback: DIPAM Secy

Disinvestment of public sector companies is back on track, after COVID-induced setbacks, and DIPAM is aiming to conclude a host of transactions by March-end, Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey said on Wednesday. Stressing that privatisation of Air India, BPCL, Shipping Corp of India, Pawan Hans, BEML and Neelachal Ispat Nigam Ltd would be completed this year, Pandey said change of ownership and control would give a lot of fillip to the valuations of the stock market listed companies.

“COVID actually hit us very badly… It is much easier to do a market transaction, much more difficult to do a strategic sale where the bidders will actually take control of the company and the due diligence process is extremely rigorous. There were controls on travel, gradually they have been lifted, our disinvestment is back on track,” he said.