New Delhi: The Government Privatization Plan Again Face the Road Barrier with the latest sidewalks To prevent the spread of new Covid variants is likely to slow down the sales process, making it difficult to achieve the target of raising Rs 1.75 lakh crore in the current fiscal year.
The Department of Investment and Management of Public Assets (Depam), which was mandated to conduct a government privatization program, has succeeded in privatizing large Indian water tickets and several other transactions in the advanced stage are being concluded.
But the third wave Covid threatened to disappoint the plan to be used for now with all the restrictions launched, which will make physical meetings difficult.
In fact, the first two waves have had an impact on the asset sales program and has caused delays and missed the target.
While DipM has turned to a virtual meeting to continue work on several transactions, induced sidewalks of the pandemic indeed have an impact.
The third wave, which is currently underway, is also expected to thwart a plan for each physical meeting with potential investors and authorities must depend on virtual mode to work on a waiting transaction.
Officials may also be reluctant to travel remembering omicron waves.
Efforts to get a response from being used about the progress of asset sales do not cause response.
So far this year, the Center has collected Rs 9,330 Crores from disinvestment in government-managed entities and RS 35,117 Crore in dividend receipts and far from the entire target.
With almost three months remaining in the current financial year, it seems to be a difficult task to close to the target.
After the success of the privatization of Air India, Dipam has planned to complete the sale of BEML, Indian and Pawan Hans shipping companies.
The process of privatizing BPCL oil marketing companies, IDBI banks and general insurance companies is likely to spill to the following year.