Clearing the deck: Govt removing legislative barriers to privatisation

The core group of secretaries on disinvestment has recently approved the disinvestment of five public sector undertakings (PSUs). This includes the entire shareholding of the government in four PSUs: Bharat Petroleum Corporation (BPCL), Shipping Corporation of India (SCI), North Eastern Electric Power Corporation (NEEPCO) and THDC (operates and maintains the Tehri Hydro Power Complex), and 30 per cent of the shareholding in Container Corporation of India Limited (Concor).

The government currently holds 54.8 per cent of Concor, so the sale will reduce its stake below 25 per cent. Over ...