BPCL, Air India to be sold by March: FM Nirmala Sitharaman


BPCL, Air India to be sold by March: FM Nirmala Sitharaman

The government is looking to wrap up the sale of state-run airline Air India and oil refiner and marketer Bharat Petroleum Corporation (BPCL) by March, finance minister Nirmala Sitharaman said on Saturday.

“We are moving on both with the expectation that we can complete them this year. The ground realities will play out,” she told TOI in an exclusive interview, while referring to the strategic sale of the two state-run companies, a crucial part of the government’s plan to raise over Rs 1 lakh crore in the current fiscal year.

Sitharaman said there is a “lot of interest” among investors as evident in international road shows ahead of the sale of Air India. A year ago, the loss-making airline’s sale had to be aborted due to tepid response from investors.

The government is banking on receipts from disinvestment – comprising strategic sale and public offers – to shore up revenues in a year when tax collections are under pressure. Read More

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