The government is likely to conclude the privatisation process of State-run companies that are in the pipeline after facing a setback over the sale of State-run oil refiner BPCL by the end of this financial year.

Shipping Corporation of India, public sector defence equipment manufacturer BEML, engineering consulting firm PDIL and Nagarnar steel plant of the country’s largest iron ore producer NMDC are among the companies where the government plans to speed up the privatisation process, according to people tracking the disinvestment process.

Owing to pandemic-led disruptions, the process has been delayed for quite a long time now. Therefore, the government has decided to provide a fresh push to privatisation of State-run banks and insurance companies, they have added. 

The Department of Investment and Public Asset Management (DIPAM) has already started organising roadshows, including presentations to the financial world and investors, to show the company’s offerings. 

The disinvestment target set for this financial year is Rs 65,000 crore, which the government is expected to meet. Out of the total target, Rs 24,047 crore has been raised from asset sales in State-run firms. Sales of residual stakes in Hindustan Zinc and Paradeep Phosphates are likely to bring the government closer to the target of this financial year.