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Panel approves bidding plan for Shipping Corporation privatisation

During the current fiscal year, the government has received Rs 12,380 crore in divestment receipts against the government's target of Rs 2.1 trillion

trade, export, container, import, shipping, sea, business, seafarer, merchan navy

The market capitalisation of the company was Rs 3,845 crore on Monday. The panel has approved this, the official quoted above said.

Nikunj Ohri New Delhi
The ministerial committee on divestment has approved the proposal to invite bids for the privatisation of Shipping Corporation of India. This would push the pedal on government’s drive to privatise state-owned firms that were approved by the government last year. 

The expression of interest and preliminary information memorandum have been approved by the alternative mechanism without any changes to the proposed conditions firmed up by Department of Investment and Public Asset Management, said a top government official. The panel includes Finance Minister, Minister for Road Transport and Highways, and minister representing respective administrative department.

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First Published: Dec 22 2020 | 1:15 AM IST

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