BPCL, SCI, Concor stake sale to bring in fresh investments: FICCI

New Delhi: Industry body Ficci on Thursday hailed the centre's go-ahead to the sale of its stake BPCL, SCI and Concor stating that the move would strengthen the performance of these companies and bring in fresh investments for both modernisation and expansion.

"It is encouraging to see the government take further steps to push the reforms agenda as well as address some of the critical pain points of industry.

The decision to undertake strategic disinvestment and transfer management control in entities like Shipping Corporation of India (SCI), Bharat Petroleum Corporation Limited (BPCL) and Container Corporation of India (Concor) are welcome," Ficci President Sandip Somany said.

Further, the decision to give greater operational authority to the board of NHAI and enabling it to securitise user fee receipts for raising long-term funds from banks is another major positive, Somany said.