Panel approves bidding plan for Shipping Corporation privatisation

During the current fiscal year, the government has received Rs 12,380 crore in divestment receipts against the government's target of Rs 2.1 trillion

The ministerial committee on divestment has approved the proposal to invite bids for the privatisation of Shipping Corporation of India. This would push the pedal on government’s drive to privatise state-owned firms that were approved by the government last year. 

The expression of interest and preliminary information memorandum have been approved by the alternative mechanism without any changes to the proposed conditions firmed up by Department of Investment and Public Asset Management, said a top government official. The panel includes Finance Minister, Minister for Road Transport and Highways, and minister representing respective administrative department.

These will be made public on