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CPSE privatisation: Govt targets to conclude ongoing CPSE privatisation this fiscal


Synopsis
The process of privatisation of Air India, BPCL, Pawan Hans, BEML, Shipping Corp and NINL has already moved to the second stage after the government received multiple expressions of interest (EoI) for these CPSEs.
Agencies
The sources said privatisation of these PSUs will be completed this fiscal ending March 2022.
Notwithstanding the disruption to businesses caused by the second wave of COVID-19, the government is aiming to conclude privatisation of PSUs like Air India, BPCL and Shipping Corporation - where the divestment process has already started - this fiscal, sources said on Wednesday. The worst outbreak of pandemic in the country has led to disrupting the timetable of scheduled activities such as physical due diligence because of travel restrictions. ....

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2nd Covid wave delays AI, BPCL divestment timelines by a few months: Report


Notwithstanding the disruption to businesses caused by the second wave of COVID-19, the government is aiming to conclude privatisation of PSUs like Air India, BPCL and Shipping Corporation - where the divestment process has already started - this fiscal, sources said on Wednesday.
The worst outbreak of pandemic in the country has led to disrupting the timetable of scheduled activities such as physical due diligence because of travel restrictions.
But the process is likely to get back on track from September, the sources with the direct knowledge of the government s privatisation plans said.
The process of privatisation of Air India, BPCL, Pawan Hans, BEML, Shipping Corp and NINL has already moved to the second stage after the government received multiple expressions of interest (EoI) for these CPSEs. ....

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Centre's disinvestment plan: A stress test for zombie steel plants


With the government looking to divest loss-making steel assets, significant interest from secondary players is most likely this time apart from the anticipated list of large integrated primary steel producers, said industry experts.
Rashtriya Ispat Nigam Limited (RINL), Neelachal Ispat Nigam Ltd (NINL), NMDC Integrated Steel Plant (NISP)-Nagarnar, Ferro Scrap Nigam Ltd and three units of Steel Authority of India (SAIL) Alloy Steels Plant, Durgapur; Visvesvaraya Iron and Steel Plant, Bhadravati; and Salem Steel Plant, Salem constitute the divestment list. All the three units of SAIL have been loss-making for more than five years.
“Some promoter-driven secondary players could have much bigger interest towards the smaller, really stressed assets put out for divestment, making it a fresh list of buying interest this time,” said Saurabh Bhatnagar, Partner and National Leader, metals and mining at EY India. ....

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Top headlines: Govt likely to ease tax compliance deadline; Nifty turns 25


Govt examining industry demands; breather on tax compliance deadline likely
The Union government is examining proposals seeking relief to businesses through extension of compliance timeline for goods and services tax as well as income tax. With India facing the biggest Covid-19 crisis so far, the government has received multiple industry representations, including from micro, small and medium enterprises, wanting a breather of up to three months.
PM avoids committing to deadlines on climate, says concrete action needed
Prime Minister Narendra Modi on Thursday avoided committing to any deadlines on emission levels or climate change goals, and said India had always been responsible in protecting the climate, was doing enough, and remained committed to sustainable development. ....

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Strategic sale to be primary mode for disinvestment: Thakur


Strategic sale to be primary mode for disinvestment: Thakur
SECTIONS
Last Updated: Mar 09, 2021, 06:38 PM IST
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Synopsis
Disinvestment of the government s equity in CPSEs depends largely on market sentiment, investor interest, and market valuation of CPSE stocks.
Thakur said adverse market conditions arising due to COVID-19 adversely impacted the government s disinvestment plans.
The scope for sale of minority stakes in public sector companies has reduced and strategic disinvestment would be the primary mode for disinvestment receipts going forward, Minister of State for Finance Anurag Singh Thakur said on Tuesday. In a written reply to Rajya Sabha, Thakur said the government has realised Rs 20,627 crore as disinvestment receipts till March 3, which is around 64 per cent of Revised Estimate (RE) in 2020-21. ....

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