WB to privatise 10 govt firms

Himalayan News Service

Kolkata, January 20

West Bengal plans to privatise 10 state-run companies by March in a bid to revive the sick units with infusion of fresh funds.

Despite being a strong opponent of the privatisation programme of the central government, Marxist-ruled West Bengal has decided to accelerate the divestment of ailing public sector firms in the months ahead to boost growth. The privatisation, euphemistically called “joint venture transformation” in the corridors of power here, will see strategic investors picking up equity stake ranging between 51 per cent and 74 per cent.