His opinion on Disinvestment was ditto.
Disinvestment should be the last option.
Air India requires restructuring and professional management, not Disinvestment.
In May, the government had tried its strategic Disinvestment which failed.
The subsidiaries which are not part of Air India strategic Disinvestment viz.
That, claim Disinvestment Ministry officials,
is the biggest hope for the future success of privatisation.
With this Disinvestment, the Government of India's share in CONCOR will come down to 56.80%.
In parallel, after elections and a new central government led by NDA alliance,
India pursued a Disinvestment policy.
Right now, it(Air India Disinvestment) is before the consultative committee and I am a member of that.
However, future Disinvestments could only be possible after a year,
given the one-year lock-in on promoter shares post IPO.
From 27 May 2004, the Department of Disinvestment is one of the Departments under the Ministry of Finance.
As per the Disinvestment plan, the government has decided to sell
majority stake along with management control in various companies.
While retaining at least 51% Government equity in our enterprises,
I propose to encourage people's participation in our Disinvestment programme.
According to an official who is aware of the Disinvestment plan,‘Now Air India only has
a loan of Rs 18,000 crore.
He would be steering the
national carrier at a time when the government has started the process for its strategic Disinvestment.
In April, both IndiGo and Jet Airways had said that they would
not be participating in the Air India Disinvestment process.
While retaining at least 51 per cent Government equity in Public Sector Undertakings,
people's participation in Disinvestment programmes to be encouraged.
If the Disinvestment Ministry succeeds in what it is doing it could
be the most significant contribution of the Vajpayee Government.
While retaining at least 51 per cent government equity in our enterprises,
I propose to encourage people's participation in our Disinvestment programme.”.
It is now clear that the Disinvestment Department' s obsessive secrecy must give way to
full transparency verging on an information overload.
Fiscal 2016-17 is the seventh year
in a row when the government would not be meeting the Disinvestment target fixed in the Budget.
The government proposes to raise Rs 1.05 trillion from Disinvestment in the current financial year
and BPCL would be crucial to achieving the target.
At the Reserve Bank, he was Member-Secretary of two high level committees:
one on Balance of payments and the other on Public Sector Disinvestments.
Plainfield took a huge hit in the 1960s,
when local social unrest led to the relocation of many residents and widespread Disinvestment in the community.
They spoke about their support for the anti-Israel BDS(Boycott, Disinvestment, Sanctions), about Israel's presence in the West Bank
and against Germany's decision to ban Khaled Barakat.
The Department of Disinvestment was set up as a separate Department on 10th December 1999
and later renamed as Ministry of Disinvestment from 6th September 2001.
But Singh, reluctant to leave India, sought the help of Disinvestment Minister Arun Shourie to plead for him with L. K. Advani,
the powerful home minister.
During the process of Disinvestment, existing rules and regulations of Securities and Exchange Board of India(SEBI)
and Insurance Regulatory and Development Authority of India(IRDAI) will be followed.
It has approved strategic Disinvestment of 49.78 per cent equity shareholding of Minerals
and Metals Trading Corporation Limited and 10.10 per cent of National Mineral Development Corporation.
Strategic Disinvestment of BSNL or MTNL has been ruled out as there
would not be any takers for it considering the current financial stress in the telecom industry.