Page 7 - Privatisation

You started privatisation in 1991: Sitharaman to Cong in Rajya Sabha

Congress initiated the privatisation process in 1991 and disinvestment of worth over Rs one lakh crore was made in 1991 and the following years, she said

A change of course on privatisation

The modest targets reflect a welcome embrace of pragmatism in the govt's economic policy

Opposition attacks govt over unemployment, privatisation in Rajya Sabha

Opposition members in Rajya Sabha hit out at the government over high unemployment rate and said the Union Budget 2022-23 failed to address the issue of job creation and increasing domestic demand.

Govt yet to decide on banks to be privatised, say MoS Finance Karad

The government has not yet decided on public sectors banks that are to be privatised, Minister of State for Finance Bhagwat Karad informed Parliament on Monday.

It's clear a country can't regulate crypto on its own, says Sanjeev Sanyal

'There are a lot of claims about how important the sector is, but nobody really knows. So it's only when we begin to tax it will we get the scale of it', he said

Govt will wait for more suitors to sell BPCL, says DIPAM Secretary

So far three suitors -- the Vedanta group, Apollo Global Management Inc. and I Squared Capital Advisors -- have expressed interest in buying the government's 53% stake in BPCL.

DIPAM Secretary on the disinvestment road map

Soon after Finance Minister Nirmala Sitharaman's Budget 2022 presentation, Business Standard caught up with DIPAM Secretary Tuhin Kanta Pandey for a perspective of the govt's disinvestment road map

Next steps on privatisation

Budget detaches the programme from fiscal needs

Largely transparent, but political

Finally, the Budget for 2022-23 has returned to its agenda for protectionism in the name of creating a self-reliant India

PM Modi didn't create single PSU, privatised 23: Congress MP in RS

Congress's MP Ripun Bora in Rajya Sabha on Thursday attacked Prime Minister Narendra Modi, saying that he did not create a single Public Sector Undertaking (PSU) while he privatised 23

Budget 2022: Divestment target for FY23 set at a modest Rs 65,000 crore

FY22 divestment mop up revised to Rs 78,000 crore from Rs 1.75 trillion pegged earlier

Last-mile sprint gave wings to Tata Group's Air India takeover

The Tatas have the know-how to quickly close deals which can otherwise get caught in legal wrangle

Govt extends deadline to place bids for PDIL privatisation

The deadline to submit EOIs has been extended to February 28 from January 31, said DIPAM

Farm-loan waiver, tax cuts, fiscal prudence: Expectations from Budget 2022

With five state elections in the coming months - Uttar Pradesh and Punjab being the major ones - some populist measures are also not ruled out, analysts said.

Divestment delayed, but petchem plans on the track: Bharat Petroleum

The government's plan is to sell its entire 52.98 per cent stake in BPCL with the transfer of management control to a strategic buyer

Power sector employees to go on 2-day strike in Feb against privatisation

The All India Power Engineers Federation (AIPEF) on Monday said that around 15 lakh power sector employees will go on nationwide strike for two days from February 23 to protest against privatisation. "National Coordination Committee of Electricity Employees & Engineers (NCCOEEE) has decided to resort to two days nationwide strike along with call given by All India Trade Unions on 23rd and 24th February," an AIPEF statement said. According to the statement, the NCCOEEE has also decided that core committee leaders of NCCOEEE will meet Governor Punjab on February 1 and handover memorandum to him against privatization of Chandigarh UT Power Department. AIPEF Chairman Shailendra Dubey said that on call of NCCOEEE about 1.5 million power employees & engineers across the country will resort to two days strike on 23rd and 24th February against privatization policies of the central government. He said that main demands of power sector employees are: withdrawal of Electricity ...

Budget with BS, Ep 5: Privatisation, direct tax mop-up, and Pronab Sen Q&A

Will privatisation in non-strategic sectors get a push in Budget 2022? What does Pronab Sen see as biggest Budget challenges for FM? Will FY22 direct tax collections exceed BE? Get all answers here

Govt puts brakes on CEL privatisation after employees union goes to court

The government has put on hold the privatisation of Central Electronics Ltd (CEL) after the employees union approached the court against the sale of the company to a little-known firm, a top official said Wednesday. Allegations of under-valuation in the Rs 210 crore highest bid made by the city-based Nandal Finance & Leasing are being examined, said Tuhin Kanta Pandey, Secretary in the Department of Investment and Public Asset Management (DIPAM), which is running the privatisation process. The Letter of Intent (LoI) for sale of 100 per cent government shareholding in CEL to Nandal Finance & Leasing has not been issued, as the allegations are being examined, Pandey told PTI. The government had in November approved the sale of CEL, under the Department of Scientific and Industrial Research (DSIR), to Nandal Finance & Leasing for Rs 210 crore. The transaction was scheduled to be completed by March 2022.

BPCL privatisation: How long can govt afford to wait for the right suitor

Its sale has been delayed by two years. But the longer the wait, the lower its chances of getting a good valuation

What is the difference between privatisation and disinvestment?

Loss-making national carrier Air India was privatised last year. And the government is going ahead with LIC disinvestment this year. Find out the difference between these two terms