NBCC, MTC, Hudco: The center attaches privatization to pump billions into non -public support units

Reuters reported on Monday that the Ministry of Finance stopped the privatization of at least nine state -owned companies, which led to the “suspension” of the operation. The move came after an opposition from the relevant ministries.

The decision, which affects companies such as Madras Fertilizers, Fertilizer Corp of India, MMTC, and NBCC, highlights a shift in the strategy with the center turning into rescue and rescue plans for non -non -public sector units.

The government plans to allocate $ 1.5 billion in financial packages for two state -owned companies after its failure to sell them. Among them is the operating company of the Paan Hans, which is scheduled to receive between 230 million dollars to 350 million dollars to update its old fleet after four failed attempts to find a buyer.

Last month, Paan Hans reported a proposal to the center to obtain 23 new helicopters to replace his old fleet of 42 helicopters.

The HIDCO Housing and Urban Development Company has now been “exempted”, which has also been identified for privatization, which means that it will not be sold, according to Reuters.

The distance from privatization is a great departure from the ambitious policy announced in 2021, which aims to reduce the role of the state in business significantly. Under the plan, the government sought to sell most of the state -owned companies, while keeping only a small presence in sensitive sectors such as banks and communications. However, the resistance of ministries, employee unions and political allies hindered progress.

So far, only three major privatization deals have been completed. These include the sale of India -Tata Airlines and quotas in the Nealachal Ispat Nigam LTD and Ferro Scap Nigam. The main sales such as Pethra Petroleum, the Indian Shipping Company, and the beml company are stuck due to complications such as land ownership transfer problems and the lack of buyers from the private sector.

The full shift of the center also reflects the hopes that the state -run companies can make it profitable, providing a steady flow of profit income. However, this shift was also affected by political facts – as Prime Minister Narendra Modi, who returned to power in 2024 with the support of the coalition, faces an increasing opposition to privatization from regional allies.