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Divestments in Air India, BPCL unlikely this fiscal
Why is it in the news?
- The strategic divestments in Air India, BPCL and Container Corporation are ‘unlikely’ to be completed in FY20.
More in the news
- These companies is on and the process is facing delays due to “surprises” encountered once the wheels began moving.
- The Ministry had budgeted to garner ₹1.05 lakh crore from divestments during the fiscal.
- When asked if the strategic divestment in BPCL, which alone can fetch the government over ₹60,000 crore if it were to sell its entire 53% stake, will be completed this fiscal.
- The government is preparing the financial statements and getting the data room ready for the sale.
- The strategic sale in Shipping Corporation of India is at a certain stage and going strong.
Source
The Hindu.