Page 16 - Privatisation

Trade unions and political parties oppose privatisation of RINL

: Hundreds of employees of Visakhapatnam Steel Plant on Friday took out a protest rally against the proposed divestment of Rashtriya Ispat Nigam Limited (RINL), the corporate entity of the steel- maker. The parties, including the ruling YSR Congress, supported the agitation. The protestors demanded that the Centre withdraw its proposal and save the steel plant as it is one of the biggest and profitablepublic sector undertakings in the state. The Union Cabinet had cleared the privatisation of Rashtriya Ispat Nigam Ltd (RINL), DIPAM (Department of Investment & Public Asset Management) Secretary Tuhin Kanta Pandey tweeted on February 3. The RINL strategic sale proceeds would be part of the disinvestment target for next fiscal. The government has budgeted Rs 1.75 lakh crore from disinvestment in 2021-22 fiscal beginning April 1. "The CCEA (Cabinet Committee on Economic Affairs) had, on January 27, 2021, given in-principle approval for 100% strategic disinvestment of the

Air India divestment expected to be closed in first qtr of FY22: DEA secy

We have taken up some big-bang disinvestments, particularly Air India and LIC on priority, said Bajaj

Govt likely to fetch around Rs 15,000 crore from sale of Air India

Prospective bidders are perhaps ascribing zero value to the equity of the financially-stressed company, a source said. The Tata group is being considered a frontrunner for acquiring Air India

Cabinet gives in-principle approval to privatise Rashtriya Ispat Nigam

The government currently holds 100 per cent stake in the maker of crude steel.

Air India employees' interest will be protected, says Hardeep Singh Puri

The interest of Air India employees will be safeguarded in accordance with the guidance of the Department of Investment and Public Asset Management, Puri said

Power engineers, employees stage nationwide protest against privatisation

Power engineers and discom employees demanded to scrap the process to privatise discoms in states and Union territories

Budget 2021: Bad bank will be a win-win for lenders, says Debasish Panda

All banks are eligible for privatisation. A committee of secretaries will decide which banks will be privatised, said Panda

Govt will reserve up to 10% in LIC's IPO for policyholders: DIPAM Secretary

Provisions have been added in the LIC Act to provide some reservation to policyholders as shareholders, said DIPAM secretary Tuhin Kanta Pandey

Union Budget 2021: Govt to privatise two PSBs and one general insurer

The Budget has also laid the road map for overhauling public sector enterprises with the announcement of the broad details of the privatisation policy

PSU privatisation: Govt to amend security clearance policy for investors

The changes are being proposed to obviate situations when a highest bidder fails the security clearance in the case of investment from China or other bordering nations on grounds of national security

Cabinet clears policy on PSU privatisation ahead of Union Budget

The contours of the policy and the strategy to privatise PSUs will be announced by Finance Minister Nirmala Sitharaman in the Budget

Govt missing the perfect opportunity for PSU privatisation: Experts

Say Centre should push PSU share sale as markets hit record high

Power engineers to protest on Feb 3 against privatisation of discoms

Power sector engineers would go for token work boycott across the country on February 3 to protest against the move to privatise distribution companies by the central government, the All India Power Engineers' Federation (AIPEF) said on Monday. "Power engineers across the country shall resort to token work boycott and hold protest meetings on 3rd February against privatization policies of the Government of India," AIPEF spokesperson V K Gupta said in a statement. Shailendra Dubey, the Chairman of AIPEF, in a letter to the Prime Minister, stated that power engineers and engineers are grieved over the central government's move towards the power sector privatisation through Electricity (Amendment) Bill, 2020, & Standard Bidding Document for total privatisation of distribution of electricity. Power engineers are opposing conversion of public monopoly to private monopoly, he said, adding that the policy of privatisation was slowly destroying the public sector across the country .

Prioritise spending, boost infra, sell PSUs: Raghuram Rajan on Budget

Former RBI Governor Raghuram Rajan says the government should take advantage of the peaks in the Indian equity markets right now and sell stakes in PSUs

Economists urge PM Modi to push privatisation, increase infra spending

Some participants also pitched for creating a separate ministry for privatisation of PSUs and assets, if needed, as was the case earlier.

Decks may soon be cleared for Container Corporation privatisation

The policy will provide clarity on lease rates the new buyer of the company will have to pay

Cabinet likely to take up policy for PSU privatisation this month

The Public Sector Enterprises policy would include broad contours of the government's plans for privatisation.

India eyes asset sales to partly fund higher spending next year: Report

India had aimed to raise more than $28 billion this fiscal year by selling stakes in companies such as Bharat Petroleum Corp Ltd, Container Corp of India and others

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

India plans tough targets for state-run firms ahead of privatisation push

India plans to set tough financial targets for state-run firms to try to improve valuations ahead of a push by PM Modi to privatise some firms, according to a draft government document and sources