 "Illustration by Ajay Mohanty")
The panel on divestment headed by Cabinet Secretary Rajiv Gauba has approved the expression of interest and preliminary information memorandum (PIM) for Shipping Corporation of India, paving the way for its privatisation.
The Core Group of Secretaries on Divestment (CGD), in its meeting on Monday, approved the conditions for privatising the government-owned company that owns a fleet of bulk carriers, crude oil tankers, among others. This would now be taken up by the alternative mechanism or ministerial panel on divestment, said a top government official.
The conditions approved by the CGD include the new buyer having a minimum net worth
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