Air India divestment not possible in near future: Government
New Delhi, July 18 : The Government on Wednesday ruled out disinvestment of Air India in the "immediate near future," though it said it remains committed to completing the process.
Saying that the present environment is "not conducive" for it, Minister of State for Civil Aviation Jayant Sinha told Rajya Sabha that the issue would be revisited once global economic indicators, including oil prices and forex conditions, stabilize.
The Ministry would, in the meanwhile, focus on near and medium-term efforts to "capture operational efficiencies" to improve the performance of Air India, along with "monetising non-core land and building assets", Sinha said.
The government had invited Expression of Interest (EoI) on March 28 this year for disinvestment of Air India including the national carrier's share-holding interest in the Air India Express Ltd. and Air India SATS. But, it received no response till May 31, the closing day.
"The government remains committed to the disinvestment... The Air India Specific Alternative Mechanism (AISAM) has decided that in view of volatile crude prices and adverse fluctuations in exchange rates, the present environment is not conducive to stimulate interest among investors for strategic disinvestment of Air India in the immediate near future," Sinha said.
The government has also decided to separately deal with the mode of disposal of the subsidiaries such as Air India Engineering Services Limited (AIESL), Air India Air Transport Services Limited (AIATSL) and Airline Allied Services Limited (AASL).
He said the probable reasons for the lack of interest among bidders include the government's 24 per cent stake and corresponding rights, a high amount of allocated debt, changes in macro environment, individuals not being allowed to bid, the profitability track record, and bidders not being able to form a consortium within the time-frame.
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Cong demands TN governor's sacking over his 'secularism is European concept' remark
New Delhi (PTI): The Congress Monday slammed as "outrageous and unacceptable" Tamil Nadu Governor R N Ravi's remark that "secularism is a European concept" and demanded his immediate sacking.
Congress general secretary in-charge communications Jairam Ramesh claimed that Ravi is "only a trial balloon floater" and is echoing what Prime Minister Narendra Modi wants to get done.
Ramesh's remarks came after Ravi said secularism is a European concept that evolved after a conflict between the church and the king whereas Bharat is a dharma-centric nation and therefore, it was not part of the Constitution but added during Emergency by "one insecure prime minister".
The Tamil Nadu governor, while addressing an event in the Kanyakumari district on Sunday, said a lot of frauds have been committed against the people of the country and one of those was a wrong interpretation of secularism.
Reacting to the remarks, Ramesh said, "This man, who has taken an oath on the Constitution and who -- inspite of his drumbeating -- remains a Constitutional functionary, should be sacked forthwith. He is a disgrace."
"This is not the first outrageous and unacceptable statement he has made. But he is only a trial balloon floater. He is echoing what the non-biological PM wants to get done," the Congress leader said.
Ravi had also said, "What does secularism mean? Secularism is a European concept, secularism is not a Bharatiya concept."
Decades later, during Emergency (1975-77), "one insecure prime minister," introduced secularism in the Constitution in order to appease some sections of people, the Governor alleged.
Indira Gandhi was the prime minister during Emergency.
Ravi further said that secularism emerged in Europe as there was a fight between the church and the king and in order to end this conflict, which went on for a long time, this concept was evolved.
At the time of Independence, when the Constitution was being drafted, a discussion came up on secularism and the Constituent Assembly rejected it observing that Bharat is a dharma-centric country and there has been no conflict, similar to what was witnessed in Europe, Ravi had claimed.
