Govt Banks On Privatisation To Meet Rs 800 bn Divestment Target In FY19


Govt Banks On Privatisation To Meet Rs 800 bn Divestment Target In FY19

The Centre is planning privatisation, or strategic sale, of a number of state-owned companies and properties to meet its budgeted target of Rs 800 billion for 2018-19.

Apart from the marquee brand, Air India, work is underway to sell-off stake in Pawan Hans, Dredging Corp, HLL Lifecare and Indian Medicines Pharmaceutical Corporation Limited (IMPCL), among others, said the official. The government is also planning to exit five India Tourism Development Corporation (ITDC) hotels in the upcoming fiscal year, starting with properties in Ranchi and Jaipur. Apart from these, NBCC might also acquire Bridge and Roof Co.

The Department of Investment and Public Asset Management (Dipam) has issued a number of requests for proposal on its website regarding these companies. “We are also discussing sale of ITDC hotels with state governments, as they own the land on which these properties are built,” said the official. Read More…

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