BPCL disinvestment: Govt's privatisation plan on the backburner as bidders walkout
Business | May 19, 2022 10:51 ISTThe government had planned to sell its entire 52.98 per cent stake in Bharat Petroleum Corporation Ltd.
The government had planned to sell its entire 52.98 per cent stake in Bharat Petroleum Corporation Ltd.
A Reuters report said that the government is considering inviting bids for a 20 to 25 per cent stake in BPCL.
PHL is a 51:49 joint venture of the government and ONGC providing helicopter and aero mobility services. ONGC had earlier decided to offer its entire shareholding to the successful bidder identified in the GoI strategic disinvestment transaction, on the same price and terms as government.
For the last several months, the 41-year-old MP from Uttar Pradesh’s Pilbhit has been expressing views on various issues - from farm laws to inflation - that are not in line with the BJP's official stand.
The government earlier this month handed over ownership rights in national carrier Air India to Tata Group for Rs 18,000 crore. The amount includes the takeover of the debt burden of Rs 15,300 crore and another Rs 2,700 crore in cash.
Akhilesh Yadav described the 2022 Assembly polls in Uttar Pradesh as a historic opportunity for the deprived and the jobless to protect Indian Constitution and avail the right enshrined therein.
After farmers protest, Rakesh Tikait may initiate a new movement against privatisation of public sector banks, gives hint in a new tweet.
Air India Assets Holding Ltd (AIAHL), which will hold non-core assets of Air India such as land and building, will also be saddled with 75 per cent of the airline's debt that the Tata Group is not taking over.
The international service was among the first public-private partnerships in India, with govt holding 49 pc, the Tatas keeping 25 pc and the public owning the rest.
According to the statement of objects and reasons of the general insurance amendment bill, it seeks to remove the requirement that the central government should hold not less than 51 per cent of the equity capital in a specified insurer.
The protestors declared that they will not allow privatization of the plant which was achieved with the sacrifice of many lives. Raising slogans against the Central government and holding banners and placards, the protestors marched through the street in the 'Padayatra'.
According to reports, the government has picked CBI and IOB for divestment. The government is likely to amend the Banking Regulations Act and other related laws to facilitate the planned divestment.
The Central government aims to sell its residual stake in four airports as part of the Rs 2.5 lakh crore asset monetisation pipeline.
RINL privatisation, Vizag steel privatisation: Rashtriya Ispat Nigam Limited is the country's first shore-based integrated steel plant producing special steel products. It was commissioned in 1992.
The government is selling its entire stake of 63.75 per cent in Shipping Corporation of India, along with the transfer of management control.
Speaking at a webinar on privatisation by the Department of Investment and Public Asset Management (DIPAM), Modi said the Budget has given a clear roadmap to take India to a high growth trajectory.
Prime Minister Narendra Modi on Wednesday said the government has no business to be in business and his administration is committed to privatising all PSUs barring the bare minimum in four strategic sectors. "It is government's duty to support enterprises and businesses. But it is not essential that it should own and run enterprises," he said.
Finance Minister Nirmala Sitharaman while presenting Budget 2021-22 earlier this month had announced privatisation of Public Sector Banks (PSBs) as part of disinvestment drive to garner Rs 1.
Finance Minister Nirmala Sitharaman on Sunday said the government will work with the Reserve Bank for execution of the bank privatisation plan announced in the budget.
The Cabinet on Wednesday cleared the new public sector enterprises (PSE) policy that will define strategic and non-strategic sectors.
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