Finance Minister Nirmala Sitharaman Says Air India and Bharat Petroleum to be Sold by March 2020
Finance Minister Nirmala Sitharaman. (Photo Credits: IANS)

New Delhi, November 17: Finance Minister Nirmala Sitharaman, in an interview to a leading English daily, confirmed that the Government of India is expected to sell the loss making government owned entities such as national carrier Air India and Bharat Petroleum. The government decided to sell off the companies, which have been incurring losses since long, after due deliberation, said the report. Air India Becomes World’s First Airline to Use TaxiBot on AI 665 Delhi-Mumbai Flight With Passengers Onboard.

In an interview to The Times of India, the Finance Minister confirmed that the government has made up its mind of selling off the debt ridden national carrier, the Air India. According to a report, the Air India has a debt of Rs 58,000 crore. Government Likely to Consider Two-Phased Strategic Disinvestment for BPCL.

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"We are moving on both with the expectation that we can complete them this year. The ground realities will play out," Finance Minister Nirmala Sitharaman was quoted by the English daily. Before the confirmation by the Finance Minister about the sell-off, Air India chairman Ashwani Lohani had penned an open letter to the employees of Air India. In the letter, he called the divestment an important decision as it would help the airline survive and sustain in a competitive market.