(a) the details of clear road map for disinvestment ofLIC, BPCL, and privatization of Air India which wereannounced in the previous financial year;
(b) the present status of disinvestment of the saidPSUs; and
(c) the target for disinvestment estimated in thefinancial year 2020-21?
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI ANURAG SINGH THAKUR)
(a) and (b): The Government has announced in the Budget 2021-22 that privatization of large CPSEs like Bharat Petroleum Corporation Limited (BPCL)and Air India will be completed in FY 2021-22. Government also announced that Initial Public Offering (IPO) of Life Insurance Corporation of India (LICI) will be brought out in FY 2021-22. Present status of disinvestment of LICI, BPCL and Air India are given as under:
(i) Life Insurance Corporation of India (LICI): Pre-IPO advisors have been appointed to advise LIC on various preparatory activities. The Actuarial Firm has also been appointed. Statutory amendments for bringing LIC IPO are proposed in the current session itself.
(ii) Bharat Petroleum Corporation Limited (BPCL):Preliminary Information Memorandum/Expression of Interest (PIM/EoI) for strategic disinvestment of BPCL was issued on 07.03.2020. The last date for submission of EoIwas extended a few times upto 06.11.2020on the request from interested bidders. The transaction has now moved to second stage with receipt of multiple EoIs.
(iii) Air India:: Air India Specific Alternative Mechanism (AISAM) approved re-initiation of disinvestment process with 100% stake sale in Air India along with Air India Express Ltd (AIXL) and 50% stake inAir India SATS Airport Service Pvt Ltd (AISATS). Accordingly, Preliminary Information Memorandum/Expression of Interest (PIM/EoI) was issued on 27.01.2020 and the last date of submission ofEoIwas extended from time to time upto 14.12.2020 on the request from interested bidders.In response to PIM, multiple EoIshave been received and the transaction has moved to second stage.
(c):The Revised Estimate (RE)for disinvestment receipts in 2020-21 has been fixed at Rs 32,000 crore.
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