New Delhi, Feb 12 (IANS) The privatisation of Pakistan International Airlines (PIA) has been sold as a big reform to end decades of losses, but the opaque deal has turned out to be an example of institutionalised corruption, according to a media report.The Pakistan government has parked around Rs 650 billion of PIA’s historic liabilities into a holding company, which insulates the buyer from huge accumulated losses. A clean operating entity has been sold to a private consortium led by Arif Hab…
Latest Privatization News & Updates
New Delhi, Feb 6 (IANS) India’s growth cycle is set to accelerate backed by reflation effort of the RBI and the government via rate cuts, bank deregulation and liquidity infusion, continuing capex, tax cuts and relatively stimulating budget, a Morgan Stanley report said on Friday.Thus, India’s hawkish macro set up post-Covid is now unwinding. The trade deals and thawing of relations with China add to the mix, the report mentioned.“Indian stocks enjoy a rare combination of inexpensive relat…
Hyderabad, Jan 25 (IANS) Alleging massive corruption in public sector undertaking Singareni Collieries under the Revanth Reddy government in Telangana, BRS leader and former minister T. Harish Rao has demanded immediate cancellation of all tenders issued under the site visit certificate.The Bharat Rashtra Samithi (BRS) leader told the media on Sunday that Chief Minister Revanth Reddy is the key person behind the Singareni scam, while his brother-in-law, Srujan Reddy, acted as the main beneficiar…
New Delhi, Jan 11 (IANS) Apex business chamber CII, in its proposals for the Union Budget 2026–27, has urged the Central government to mobilise resources through a calibrated approach to privatisation to unlock the value of public sector enterprises.Chandrajit Banerjee, Director General, CII, said, “India’s growth story is increasingly being powered by private enterprise and innovation. A forward-looking privatisation policy, aligned with the vision of Viksit Bharat, will enable the govern…