‘Covid wave may delay privatisation, divestment’
April 19, 2021
Privatisation of insurance and banking companies requires some legislative action - HAKINMHAN×
Officials say LIC’s IPO could also take a hit given the complex valuation process
The surge in Covid-19 cases across the country is likely to impact the progress on strategic disinvestment and privatisation programme during this fiscal, which could further delay the sale of government’s stake in companies such as Bharat Petroleum Corporation and Shipping Corporation of India.
Privatisation of two nationalised banks and a government-owned general insurance company could also be impeded. Officials also indicated that the initial public offering (IPO) of LIC may see some delay.