The Hindu : GoM on airports privatisation meets

Online edition of India's National Newspaper
Wednesday, Jan 08, 2003

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GoM on airports privatisation meets

By Gargi Parsai

NEW DELHI JAN. 7. The Union Minister for Civil Aviation, Shahnawaz Hussain, today met the Union Finance Minister, Jaswant Singh, to discuss the modalities of the privatisation of the international airports in the four metro cities. On Friday, the Union Cabinet had formed a Group of Ministers (GoM) with the two Ministers on the issue.

It was decided that the Secretaries of both the Ministries would come up with proposals on what was the best route to be adopted for "fast track" privatisation of the airports to make them world class.

The meeting also discussed the logistics of possible funding by the Government and a joint venture with the Airports Authority of India, although it was emphasised that a private-public joint venture or leasing of the airports to private investors were options that were not closed.

On Friday, the Union Cabinet, chaired by the Prime Minister, Atal Behari Vajpayee, postponed the decision by a month on the Civil Aviation Ministry's proposal for joint-venture privatisation of the four metro airports with 95 per cent stake holding by the private partner to five per cent by the Airports Authority of India.

Mr. Vajpayee formed a two-member Group of Ministers with Mr. Singh and Mr. Hussain and directed them to return to the Cabinet within a month with a proposal that opts for a quick route of privatisation of the metro airports.

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