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Air India Could be Sold by Govt by March 2020
September 25, 2019
According to a senior Finance Ministry official, India is looking to raise around 600 billion by selling a few public sector entities to domestic or foreign companies by March 2020. They said that as of now, logistics company Container Corp of India Ltd., Bharat Petroleum Corp, and debt-stricken Air India are some of the firms that the government has in mind for sale.
The official said that the Prime Minister’s Office (PMO) has made it clear that we can’t sell government firms to other government firms and then call it privatization. They were referring to the past sale of Hindustan Petroleum Corp Ltd. to Oil and Natural Gas Corp Ltd.
Photo credit: paulhami on Visual Hunt / CC BY-SA
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