Govt to focus on strategic stake sales: DIPAM Secretary

For BPCL, in which the government is selling a 52.98 percent stake, the deadline has been extended till July 31. For 100 percent stake sale in Air India, the deadline for bid submission is now August 31.

There was a little bit of disruption due to COVID and extensions given in terms of EoI (Expression of Interest) but the government has clarified that we are very much on the same track of aggressively pursuing strategic disinvestment. More focus on that.

“Of course, there will be OFS (offer for sale), buybacks…(but) it will be more focused on strategic disinvestment,” he said.

For 2020-21 fiscal, the government has set a disinvestment target of Rs 2.10 lakh crore.

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The strategic sales being pursued right now include Air India, BEML, Scooters India, Bharat Pumps Compressors, and some units of steel major SAIL, among others.

The government had in May announced that a maximum of four public sector companies will be present in strategic sectors, while state-owned firms in other segments will be privatized.

This is part of a new coherent Public Sector Enterprises Policy to be formulated to push reforms in Central Public Sector Enterprises (CPSEs).

In other sectors, CPSEs will be privatized depending upon the feasibility.