Despite criticism, govt digs in heels for privatisation of Air India, BPCL

In AVIATION

The Narendra Modi government is unmoved in its efforts to carry out the “strategic sale” of companies like Air India, Bharat Petroleum Corporation Ltd (BPCL), Container Corporation of India (Concor), and The Shipping Corporation of India (SCI), even as it faces opposition and criticism from some of its own affiliates like the Swadeshi Jagaran Manch.

“The Prime Minister’s Office has made it clear that apart from THDC, and North Eastern Electric Power Corporation (Neepco), all the other companies up for privatisation this time around are to be sold to private players. The intent is clear, the Cabinet Committee on Economic Affairs has given its approval, and we are going ahead with the process,” a top official told Business Standard on Monday.

The Department of Investment and Public Asset Management (DIPAM) is in the process of appointing transaction and legal advisors for BPCL, Concor, and SCI. It is learnt that Deloitte has been appointed transaction advisor for both BPCL and Concor privatisation. Read More

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