Air India stake sale will be 'very, very difficult' says Arvind Panagariya

June 3, 2017

New Delhi, Jun 3: Selling stake in Air India will be "very, very difficult" with its debt burden of Rs 52,000 crore and the government has to decide if there should be partial or full write-off of debt, NITI Aayog Vice Chairman Arvind Panagariya said on Friday.Panagariya

Loss-making Air India, surviving on taxpayers' money, is facing tough business conditions amid stiff competition.

Stressing that the government has to first decide whether the national airline should be privatised or not, Panagariya said various issues need to be discussed.

"Assuming that the decision is made to privatise (Air India), then the issue comes what is the universe of potential buyers... only the national buyers or will we allow foreign entities also to bid for it," he said at a press meet here.

Panagariya noted that another issue is if the government should retain some stake in it, however small, "because there is the issue that it (Air India) is a national carrier and therefore, we should maintain that".

About the airline's debt burden, the NITI Aayog Vice Chairman said the last number he heard was Rs 52,000 crore.

"That's a very large number... selling it (Air India) with the existing debt is going to be very very difficult even say, it is open to both domestic and foreign buyers".

"Something will need to be done on debt issue also. The question largely is whether the government of India writes off the entire debt or some part of it. All this needs to be discussed," he said.

NITI Aayog has given its recommendations on making Air India strong and viable and those are being looked into by the Civil Aviation Ministry.

"NITI Aayog has given its suggestion to the Civil Aviation Ministry... Civil Aviation Ministry has to explore all the possibilities as to how the privatisation of Air India can be done," Finance Minister Arun Jaitley said on Thursday.

On Thursday, Jaitley and his Civil Aviation counterpart, Ashok Gajapathi Raju, discussed the future course for debt- ridden Air India and senior officials had indicated that a decision on privatisation would be taken within three months.

Air India has been in the red since the merger with Indian Airlines in 2007. However, it posted an operational profit of Rs 105 crore on account of low fuel prices and increased passenger numbers in 2015-16.

Staying afloat on little over Rs 30,000 crore bailout package extended by the previous UPA regime, Air India is in discussions with lenders on ways to restructure the loans.

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News Network
January 30,2020

Mumbai, Jan 30: The Shiv Sena on Thursday endorsed Union home minister Amit Shah's view that alleged inflammatory statements made by Sharjeel Imam, an anti- Citizenship (Amendment) Act (CAA) activist, were dangerous.

No politics should be done on the issue, and such "pest" afflicting the country should be finished off, it said.

Imam was arrested on Tuesday in connection with his speeches at Jamia Millia Islamia University in Delhi and in Aligarh during anti-CAA protests.

He has been booked for sedition, among other offences.

In an editorial published in its mouthpiece `Saamana', the Sena, a former ally of the BJP, said, "We agree with union home minister's comments that Sharjeel Imam's alleged words of separation are more dangerous than that of Kanhaiya Kumar."

Kumar, former student leader from Jawaharlal Nehru University, had been arrested over alleged separatist slogans shouted during a protest on varsity campus.

The Sena, which has formed alliance with the Congress and NCP to come to power in Maharashtra, is often seen walking a tightrope to preserve its credentials as a pro-Hindutva party.

"The union home ministry, while initiating action against Imam, should not indulge in politics and try to finish off this pest that is afflicting our country," the editorial said.

"One must find out why such language of breaking up this country into pieces is being used by the educated youth of this country more and more frequently. Who is spewing such venom into the mind of Sharjeel who did his graduation from IIT-B and now pursuing PhD from JNU?" the Sena asked.

"Even people involved in Elgar Parishad at Pune are facing sedition charges and these people have been known as intellectuals and are well-known personalities," said the party.

"A conspiracy to bring about a conflict between Hindus and Muslims and ensure continuance of anarchy and civil war as in Iraq and Afghanistan exists. The boost for such activities is coming from a 'political laboratory'," the editorial said.

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News Network
June 5,2020

Jun 5: Underworld don Dawood Ibrahim and his wife Mahzabeen have tested positive for COVID-19, a top government source told CNN News 18. They were admitted to the Army Hospital in Karachi.

Some of Dawood's personal staff and guards have also been quarantined, the report said on Friday.

Dawood was the mastermind of the 1993 Mumbai blasts and is one of the most-wanted gangsters by India. He has allegedly been living in Pakistan but the neighbouring country has always refusing to accept it.

Earlier in the day, a senior diplomat of the American embassy in Pakistan has tested positive for the novel coronavirus, a media report said.

In a statement, the embassy's spokesman said that while maintaining the privacy, the name of the citizen would not be disclosed.

The US State Department is responsible to protect its citizens, wherever they are, the spokesman added. In coordination with the Pakistani authorities, the consulate is working to enforce the coronavirus protocol in order to stem its spread. The spokesman added that isolation wards, contact tracing and quarantine facility are part of such protocols.

Meanwhile, Pakistan has 89,249 COVID-19 cases and the death toll is 1,838.

 

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News Network
February 16,2020

New Delhi, Feb 16: Just an hour ahead of the swearing-in ceremony, Arvind Kejriwal invited the people of Delhi again for his oath-taking ceremony at Ramlila Maidan today.

Referring himself as "son of Delhi", the AAP convener today tweeted saying, "Delhiites, your son is going to take oath as Delhi chief minister for the third time. You must come to bless your son".

The AAP national convener will be sworn-in as the Chief Minister of Delhi for the third time in a row.

Arvind Kejriwal is scheduled to take oath along with other ministers at Ramlila Maidan.

On Saturday, Kejriwal, through a tweet, has said that autorickshaw drivers, students, teachers, doctors, labourers, etc will be the "chief guests".

The guest list put out by the AAP includes ''Delhi ke Nirmata''- people who contributed to the development of the city during the last five years.

These include Sumit Nagal, a Delhi government school student and an international Tennis player, Laxman Chaudhry an auto driver, Manu Gulati a teacher and "one of the many architects of Delhi Governance Model", Dalbir Singh a farmer, Ratan Jamshed Batliboi - the architect of the famous Signature Bridge among others.

By winning 62 seats by cashing in on the plank of development, his party nearly repeated its 2015 performance, sweeping the Assembly polls in the face of a high-voltage campaign by the BJP, which had fielded a battery of Union Ministers and Chief Ministers in its electioneering, spearheaded by Home Minister Amit Shah.

The BJP marginally improved its tally, managing just eight seats from its 2015''s tally of three seats. The Congress failed to open its account in the second successive election.

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