State-run pharma co IMPCL selloff sees several EOIs – Times of India

by The Technical Blogs

NEW DELHI: The Centre has received multiple expressions of interest (EOIs) for the privatisation of state-run Indian Medicines Pharmaceutical Corporation (IMPCL), a top finance ministry official announced on social media platform X on Monday. Tuhin Kanta Pandey, secretary, department of investment and public asset management (Dipam) said the transaction now moves onto the second stage.He did not elaborate.
The Centre’s privatisation plan has slowed down significantly after the successful sale of state-run Air India to the Tata Group. Several big ticket privatisation transactions such as Shipping Corporation, BEML, BPCL, Concor have faced delays. The upcoming national elections in 2024 are also expected to further slow down the transactions. Last year, the Centre had scrapped the privatisation of the country’s second largest state-owned oil refining and marketing firm Bharat Petroleum Corporation (BPCL) due to the obstacles in the sale process triggered by the Covid-19 pandemic.

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