New Delhi, Oct 22 (IANS) The government's disinvestment programme is set to gather pace next month as bids for at least four to five public sector companies lined up for strategic sale get invited with the aim of completing the deal in the last quarter of FY21.
The Department of Investment and Public Asset Management (DIPAM) is set to initiate the strategic sale process of four PSUs including Concor, BEML, Shipping Corporation and BPCL in November. And if the process gets suitable investor interest, officials said financial bids and actual sale would be completed during the January-March quarter.
Along with strategic sale in profit making PSUs, the long pending disinvestment and asset monetisation plan involving two steel making units of SAIL and Neelanchal Ispat Nigam Ltd will also be taken up for completion.
DIPAM has also sounded about a dozen PSUs to be ready for buying back government shares in the company close to Diwali or by December-January period.
The disinvestment department has stepped on the gas on the share sale programme as the Covid-19 pandemic has completely disturbed its momentum this year with the government so far mobilising just about Rs 5,500 crore as disinvestment receipts as against a target of Rs 2.1 lakh crore for FY21.
In the case of BPCL, the general sense now is that the company would attract investor interest as its books have been cleared of losses on inventory as the oil market has remained stable. Moreover, a pick up in oil demand in the country would also make the company attractive for investors. The bidding process for BPCL has already been postponed on four occasions and government sources have now said that it would not be extended beyond November 19, the last date for filing EoI.
Policy measures ensuring a level playing field for Concor under new management have also been provided to remove any doubts in the mind of the acquirer. Similar changes have also been done for other companies to ensure investor interest and good valuation for the companies.
Government sources also said that bidding for Air India would be kick started by December and to ensure that the debt ridden airline invites interest, bidding conditions have been further sweetened. Investors have now been given the freedom to decide on the debt level for the airline while valuing it on enterprise value.
Bengaluru, Nov 25 (IANS) South Western Railway's (SWR) Divisional Railway Manager, Ashok Kumar Verma, on Tuesday flagged off the first export-bound New Modified Goods (NMG) rake from the Hosur railway station to neighbouring Bangladesh.
This is the first NMG rake dispatched by the South Western Railway to Bangladesh.
Speaking to reporters, Verma said the rake consisting of 25 wagons loaded with 100 light commercial vehicles (LCVs) is called "Dost" and has been manufactured by Ashok Leyland. It left for Benapole railway station in Bangladesh.
He said that transportation of automobiles by train is safer and faster compared to transportation by road. "Nont only it is safe and cheaper, but it is also easy to monitor the movement of the consignment in trains with real-time check in practice," he said.
The SWR in a statement claimed that earlier, the Bengaluru division had dispatched two export-bound NMG rakes to Nautanwa (Nepal) from the Penukonda railway station. "Overall, the division has loaded 128 NMG rakes during the current financial year," the statement added.
Verma said the Bengaluru division, which was mainly transporting raw materials and essential commodities, took to loading of automobiles for the first time when it transported 175 tractors from the Doddaballapur railway station to Phuleria in Rajasthan on April 29 this year.
Upbeat about change in the recent policies such as two points unloading of NMG rakes and exemption of terminal charges for automobiles, Verma said that these policy changes have certainly boosted the loading of automobiles by India in Railways.
"In 2020-21, five NMG rakes have been loaded from Hosur. Apart from the rake that left for Bangladesh today, 5,528 two-wheelers have been sent in four rakes to Mandideep in Madhya Pradesh," the Verma said.
The SWR statement added that during the current year, 65 rakes of automobiles manufactured by TAFE, mainly tractors, have been transported by train from the Doddaballapur railway station near Bengaluru.
Till date, a total of 5,600 cars have been transported to Farukh Nagar in Haryana and Nautanwa in Uttar Pradesh from Penukonda in 55 rakes.