The central government, which has so far managed to get over Rs 21,000 crore through selling part of its stake in five state-run firms, expressed commitment to divest stake in some more firms before the end of 2012-13.
Now, with just 37 days left for the fiscal year to end, it has come out with a final list. the finance ministry announced that it was going ahead with selling part of its equity in four public sector undertakings in the current fiscal.
Before March 31, the government would sell stake in National Aluminium Company, MMTC, Rashtriya Chemical and Fertilisers and the Steel Authority of India.
This information was given by the Minister of State for Finance SS Palanimanickam in the Lok Sabha.
This shows that government has stuck to its disinvestment drive even after facing the two-day nation-wide workersÂ’ protest against disinvestment among other issues.
Although, the Government initially targeted Rs 30,000 crore through disinvestment proceeds, it later admitted that it might not get more than Rs 27,000 crore.
All these four PSUs are planned to be divested through ‘offer-for-sale through stock exchanges’ also known as the ‘Auction Method.’
Disinvestment has already been carried in four companies till date, while three approved cases of Rashtriya Ispat, Hindustan Aeronautical and Engineers India are planned for the next year. Final approval for heavy industries major BHEL is still awaited.
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