Based on sources, the federal government is dedicated to the privatisation of two public sector banks and it’s on target.
Moreover, sources additionally mentioned the divestment of BPCL can be on the cardboard and recent bids will probably be invited.
The federal government needed to cancel the sale as solely a single bidder was left within the fray, sources mentioned.
The federal government had deliberate to promote its total 52.98 per cent stake in Bharat Petroleum Company Ltd (BPCL) and invited Expression of Curiosity from bidders in March 2020. Not less than three bids got here in by November 2020 however just one stays now after the others withdrew from the race.
On the strategic sale of
(), sources mentioned, there are some points and the method can be undertaken after these are resolved.
The Cupboard, in November 2019, had authorised the strategic sale of a 30.8 per cent stake, together with administration management, in Concor out of the federal government fairness of 54.80 per cent. The federal government will retain 24 per cent stake post-sell-off however with none veto powers.
The federal government think-tank NITI Aayog has already instructed two banks and one insurance coverage firm to the Core Group of Secretaries on Disinvestment for privatisation.
Based on sources, Central
and are doubtless candidates for privatisation.
As per the method, the Core Group of Secretaries, headed by the Cupboard Secretary, will ship its suggestion to Different Mechanism (AM) for its approval and finally to the Cupboard headed by the Prime Minister for the ultimate nod.
The members of the Core Group of Secretaries embody financial affairs secretary, income secretary, expenditure secretary, company affairs secretary, authorized affairs secretary, Division of Public Enterprises secretary, Division of Funding and Public Asset Administration (DIPAM) secretary and an administrative division secretary.