Par panel asks govt for details on AI disinvestment decision


Team Udayavani, Jul 10, 2017, 9:59 AM IST

New Delhi: A Parliamentary panel has sought details from the government on giving in-principal approval to its divest stake in Air India even as modalities are being worked out for the proposed divestment to revive the debt- laden national carrier.

Officials from the ministries of finance and civil aviation as well as from Air India are expected to provide views this week to the Parliamentary Standing Committee on Transport, Tourism and Culture.

On June 28, the Cabinet Committee on Economic Affairs gave in-principle approval for considering strategic disinvestment of Air India and five of its subsidiaries.

The committee will hear the views of the Ministry of Civil Aviation, Department of Investment and Public Asset Management (Ministry of Finance) and Air India on the disinvestment of the airline on July 12, as per the panel’s schedule.

Sources had earlier said that the committee had discussed the government’s decision at its meeting held on July 5 and later decided to seek details on the same.

The 31-member panel is headed by Trinamool Congress member Mukul Roy and has 21 MPs from the Lok Sabha. The members include those from the Congress, BJP, BJD, SP, CPI (M) and TDP.

A group of ministers, headed by Finance Minister Arun Jaitley, would be looking into various aspects related to Air India. It would look into the treatment of unsustainable debts of the national carrier, hiving off certain assets to a shell company and de-merger and strategic disinvestment of three profit-making subsidiaries, among others.

Air India, which has a debt burden of more than Rs 52,000 crore, is staying afloat on taxpayers’ money. The previous UPA government had extended bailout package worth little over Rs 30,000 crore to the national carrier for a ten-year period starting from 2012.

The national carrier’s main grouping – the Air Corporations Employees’ Union (ACEU) – is opposed to the disinvestment. The ACEU represents Air India’s non-technical staff and has nearly 8,000 of the airline’s total 21,137 employees as members.

On July 12, the panel is also expected to “consider and adopt the draft reports on the Merchant Shipping Bill, 2016 and the Major Port Authorities Bill, 2016”

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

World Bunts Summit to be held in Mumbai on December 7

SC dismisses PIL seeking CBI probe into Tirupati laddus row

Salman Khan gets another threat; message sent to Mumbai traffic police helpline

SC overrules 1967 verdict holding AMU can’t be minority institution

BJP MP Tejasvi Surya, editors of Kannada news portals booked for allegedly spreading fake news

Egg distribution scheme for school children under scrutiny over alleged mismanagement

India Post M’luru division to offer doorstep service to pensioners for Jeevan Praman certificate

Related Articles More

SC notice to Centre on plea to include ayurveda, yoga in Ayushman Bharat

BJP wants to snatch ”Jal, Jungle, Jameen” from tribals, alleges Rahul at Jharkhand poll rally

SC refuses to examine plea to appoint ‘yoga mitra’ instructors in schools

Maha Vikas Aghadi a vehicle sans wheels and brakes: PM Modi

LDF lodges complaint with EC, seeks probe into distribution of food kits in Wayanad

MUST WATCH

Gho Pooja in Deepavali Festival

Melukote Deepavali

Ganapathi Co-operative Society Ltd

Udayavani Chinnara Banna 2024

Annapoorna Aahar | Food Places In Mysore


Latest Additions

Chikkaballapur: Yoga teacher feigns death by holding her breath, escapes murder bid

SC notice to Centre on plea to include ayurveda, yoga in Ayushman Bharat

BJP wants to snatch ”Jal, Jungle, Jameen” from tribals, alleges Rahul at Jharkhand poll rally

Leopard spotted near M’luru airport, Forest Dept begins search operation

Mangaluru International Airport achieves record passenger & air traffic movement in October 2024

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.