Nirmala Sitharaman asks industry to bid for PSUs, Vedanta may bid for BPCL

New Delhi: Finance Minister Nirmala Sitharaman on Friday invited industry to participate in the disinvestment of central public sector enterprises (CPSEs) like BPCL, Concor and Shipping Corp, saying the country’s macroeconomic fundamentals are very strong and industry should grow by participating in such areas. Speaking at industry chamber Assocham’s centenary celebrations here, she also said India’s inflation is well under control.

“Disinvestment of CPSEs is happening and some of you may have to come forward to participate in them and offer a bid. You cant remain quiet. You look at prospects of growing your businesses by picking up some of these companies which are being offered” she said. “These are essentially good companies and you must be the first bidders,” she added. Sitharaman also said there has been an impact on prices of seasonal vegetables like onions, but inflation has always remained below 4 percent.

“There have been times when food inflation was in double digits in 2013-14. Even when onions played havoc it did not cross 4 percent. Inflation has been kept under control and even our macroeconomic fundamentals like FDI and forex reserves are very strong,” Nirmala Sitharaman said. Soon after the Finance Minister’s call, Vedanta Chairman Anil Agarwal who was present at the event told media his company would definitely consider bidding for the CPSEs on offer. (IANS)

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