New Delhi :The government has decided to “wait and watch” for the next three-four months before taking a call on disinvestment of national carrier Air India due to prevalent market condition specially high fuel prices, Union Minister Nitin Gadkari said on Wednesday.

The government’s proposed stake sale in Air India failed to attract any initial bidder when the deadline for bidding ended on May 31.

“Market condition is not right for Air India disinvestment now. In view of this we are keeping a wait and watch policy for the next three to four months,” Gadkari, who holds multiple portfolios such as road, transport, highways, shipping and water resources, said. The minister said given the high fuel prices at present, the viability of the move will be judged before going ahead with the disinvestment process.

Meanwhile, Finance Minister Piyush Goyal said the government will try on its own to make Air India profitable so that the airline will become more attractive for disinvestment.

He said the alternative mechanism of ministers would be meeting soon to decide the future course of action for the national carrier.

“… we will try to make Air India a profit making company on our own. Then, we will have more options of disinvestment,” he added.

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Free Press Journal