After Air India success, Government aggressively targeting disinvestment of 4-5 companies by FY22 end, DIPAM Secretary tells Zee Business

After successful disinvestment of Air India, the government gears up for others too. To discuss this in detail, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kant Pandey speaks to Zee Business Executive Editor Swati Khandelwal in an exclusive interview.

The government disinvestment target of Rs 1.75 lakh cr was announced during this year’s budget speech. Post the budget many problems have arisen including the second Covid-19 wave and the uncertainties around it, Pandey said adding that the country has been able to overcome that and the disinvestment transactions have resumed.

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The fear has completely not vanished and the new variant will also pose certain challenges, secretary said.

The government’s endeavour is to expedite the transactions, with the view of these hazards, he further said.

He said that the department has been able to complete the disinvestment process of Air India. The Government’s Alternate Mechanism has also approved disinvestment of Central Electronics Limited (CEL), he added.

He said that the government hopes to complete 4-5 transactions by the end of this financial year.

The next round of transactions will see disinvestment of companies like BPCL, BEML, Shipping Corporation of India, Container Corporation of India

The due diligence process in the case of BEML is in a very advanced stage and is in the stage of financial bids. The government expects financial bids to come by January. We hope to finalise it by the end of this financial year.  

SCI is in a similar stage, he said adding that the due diligence process is in a very advanced stage.

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The government is in a position to receive financial bids in January.