Modi Govt Plans Strategic Sale Of At Least Four More PSUs By March End: Report

The Central government is looking to build on the recent privatisation momentum by rounding off at least four more transactions by the end of the current fiscal.

The government is working on finalising the transactions of BEML, Pawan Hans, Shipping Corporation of India and Neelanchal Ispat by the end of March, reports Times of India.

“We are working on several transactions and we are hoping to conclude this by the end of the year,” Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey was quoted in the report as saying.

Meanwhile, the government is also likely to introduce the legislative amendments for the privatisation of two public-sector banks in the ongoing winter session of the Parliament. The Central Bank of India and the Indian Overseas Bank are touted to be the two state-run banks to be privatised by the central government.

However, the sales of BPCL, IDBI Bank and also that of a general insurer will perhaps be pushed to the next fiscal year.