NEW DELHI, Feb 22: India’s minister in charge of privatization, Arun Shourie, said on Friday that the momentum for sales in state firms was set to get a big push with individual states gearing for major privatization.
This will not only spread the privatization process throughout the country, but also reduce political resistance to disinvestment as the states are ruled by different parties, Shourie said.
“Many of the state governments are on the verge of privatizing companies,” he told reporters.
There are more than 1,000 firms owned by individual state governments, many of which are in a shambles financially.—AFP
