This refers to the editorial, “In Maharaja's honour” (June 30). By Air India) disinvestment and the rolling-out of GST, the Government has nailed all misconceptions about the its tendency to dither on going ahead with tough decisions. Unlike in the past when AI privatisation plans landed with a thud after an initial take-off, the NDA Government has displayed its firm resolve by a well-thought of plan by letting go its emotional attachment with the ‘maharaja’.The Government's move is laudable and should exemplify in other loss-making public sector undertakings. When there are established private players to fill the market share of Air India(AI), there was no meaning in funding a loss-maker.
The funds could be used for social and educational purposes. The Government's option to go for a strategic sale rather than a one-time privatisation is reasonable considering the high stakes involved. The inter-ministerial group will decide on the modalities of treatment of unsustainable debts, hiving assets off and quantum of disinvestment among others. Though the task is tough but not impossible. The search for a buyer with deep pockets will indeed be a herculean task, though IndiGo, with the highest market share, has been the first to declare its Expression of Interest (EOI).