While the government had set ambitious disinvestment targets for nearly 23 PSUs including Air India and BPCL this year, coronavirus has thrown a spanner into the same. Merely days after Finance Minister Nirmala Sitharaman announced that the government will open private participation in all sectors under Prime Minister Narendra Modi\u2019s Atma Nirbhar Bharat plan, the finance ministry had to again extend the deadline of its showpiece privatisation companies Air India and BPCL on Wednesday. For the current financial year, the government has set a target of divesting about Rs 2.1-lakh crore.<\/p>\n
\u201cNormally strategic disinvestment takes 8-9 months\u2026 To a lot of extent, Covid has put a brake on this because international travel has virtually stopped. To some extent, we have to grant extension to some of the EoIs that we have issued,\u201d Tuhin Kanta Pandey, secretary, Department of Investment and Public Asset Management (DIPAM), said on July 22, The Indian Express reported. According to the revised deadlines, bidders can submit expression of interest (EOI) for stake sale in BPCL by September 30. The fresh deadline to bid for purchasing stake in Air India has also been extended to August 31.The deadline for stake offloading of other companies have also been delayed and big ticket stake sales may take time to materialize.<\/p>\n","protected":false},"excerpt":{"rendered":"
While the government had set ambitious disinvestment targets for nearly 23 PSUs including Air India and BPCL this year, coronavirus has thrown a spanner into the same. Merely days after Finance Minister Nirmala Sitharaman announced that the government will open private participation in all sectors under Prime Minister Narendra Modi\u2019s Atma Nirbhar Bharat plan, the finance ministry had to again extend the deadline of its showpiece privatisation companies Air India and BPCL on Wednesday. For the current financial year, the government has set a target of divesting about Rs 2.1-lakh crore. \u201cNormally strategic disinvestment takes 8-9 months\u2026 To a lot […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[196,130,138],"tags":[],"class_list":["post-365790","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-financial-express","category-newspapers","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/365790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=365790"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/365790\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=365790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=365790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=365790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}