New Delhi: The Government Think Tank Niti Aayog may not recommend a fresh set of countries managed by the state to privatize for now and are expected to wait to see the progress of the company that has been identified for privatization, the source said.
Niti Aayog, which has been entrusted with work identifying public sector units for privatization, want to conduct routine reviews about the progress of the asset sales program.
But the Department of Investment and Management of Public Assets (Depam), which manages the Disinvestment program, has shown that the government think tanks that such reviews are not possible and have quoted business rules to support their arguments.
Dipam has said that the core group Secretary has conducted a review of the Disinvestment and CEO of Niti Aayog programs is part of the process, said sources that are aware of developments.
Niti Aayog has sent a list for the privatization of two banks, one insurance company and other companies managed by the state.
But this progress has been limited to reasons of rafts, including the impact of the Covid-19 pandemic in the sales process.
The government wants to speed up the process and demand for Niti Aayog will review progress may have been triggered by anxiety to track the process quickly, which is considered important for this year to increase income that is needed.
The privatization of two banks managed by the state and insurance companies is not possible in the current financial year because of several problems, including legislative change must still be tied.
The current government’s focus is in the list of insurance giants managed by the state and there is hope that it must be resolved in the fourth quarter of the current fiscal year, which ends in March.