• Saturday, May 21, 2022

INDIA

India to sell ‘enemy shares’ of people who fled to Pakistan

Prime minister Narendra Modi

By: Keerthi Mohan

India’s government is to sell more than $400 million worth of shares left behind by people who fled to Pakistan or China after wars with those countries. The government said the “enemy shares” were in 996 companies held by 20,323 people and entities. They were seized after conflicts with Pakistan in 1947, 1965 and 1971 and the 1962 border war with China. The sale, to be led by India’s finance minister, is expected to raise at least $413 million, a minister said after the government announcement on late Thursday (8). The proceeds would be used for development and social welfare programmes,…

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