With both aviation and oil sectors in crisis after covid-19 paralysed much of the world, it was unrealistic to expect buyer enthusiasm for Air India and BPCL On Tuesday, the government extended the bid submission deadline for Air India’s sale by two months to 30 June.
Earlier, its effort to offload a big stake in Bharat Petroleum Corp. Ltd had run into trouble. With both aviation and oil sectors in crisis after covid-19 paralysed much of the world, it was unrealistic to expect buyer enthusiasm for these state-owned companies.
Given the economic uncertainty, analysts are not betting on a smooth disinvestment run this year. In theory, quick sell-offs could help the Centre raise the money needed for a robust fiscal stimulus package.