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A-I, IA amongst 18 PSUs on selloff list

Buoyed by the big ticket privatisation of corporations like VSNL and IBP, the government has once again inducted national air carriers Air-India and Indian Airlines along with 16 other PSUs for privatisation after March 31, 2002.

Others in the list of PSUs, which are on the anvil for divestment, include National Aluminium Company, Shipping Corporation of India (SCI), Madras Fertilisers and National Fertilisers, according to Economic Survey presented by Finance Minister Yashwant Sinha in Parliament on Tuesday.

Commenting on the divestment policy of the government, the Survey said that privatisation of 10 PSUs, including Maruti Udyog, Hindustan Zinc, Indian Petrochemicals Corporation and ITDC would be completed during the current fiscal.

It has raised Rs 55.73 billion from divestment of equity in various PSUs during the year as opposed to a target of Rs 120 billion set in last Budget.

Telecom giant Videsh Sanchar Nigam accounted for Rs 36.89 billion with IBP chipping in with Rs 11.54 billion.

As many as six PSUs including Bharat Brakes, Scooters India and Praga Tools were returned to Department of Heavy Industry as their were no bidders.

Stating that obstacles in the path of divestment had been resolved with Supreme Court decision in Balco case, it said the judgement was expected to pave way for accelerating way for divestment.

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