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Finmin confident to meet Rs40,000 cr disinvestment target

Finmin confident to meet Rs40,000 cr disinvestment target
PTI
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First Published: Tue, Sep 28 2010. 03 09 PM IST
Updated: Tue, Sep 28 2010. 03 09 PM IST
New Delhi: Despite only Rs2,000 crore mopped in the first half through disinvestment, the finance ministry today said it is “confident” of meeting the Rs40,000 crore target for the current fiscal, as there is enough appetite in the market.
“We are confident of meeting the Rs40,000 crore target...there is enough appetite in the market,” Disinvestment secretary Sumit Bose told reporters here.
He further said that disinvestment in many big ticket companies, including IOC, ONGC, SAIL, Coal India and Power Grid are expected in the current fiscal.
“We expect IOC, ONGC disinvestment in the current fiscal,” Bose added.
Aiming to raise Rs40,000 crore through disinvestment this fiscal, the government has mopped up over Rs1,000 crore by divesting stake in Satluj Jal Vidyut Nigam, and around Rs1,000 crore through Engineers India FPO.
Besides, the government plans to sell 5% stake in Oil and Natural Gas Corp (ONGC) and 10% in Indian Oil Corp (IOC) to raise about Rs21,000 crore this fiscal, Oil Secretary S Sundareshan had said.
The government is diluting its 10% stake in Coal India Ltd (CIL) through a public offer to raise Rs16,000 crore.
At present, the government owns a 100% stake in the company.
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First Published: Tue, Sep 28 2010. 03 09 PM IST
More Topics: Finmin | Disinvestment | IOC | ONGC | SAIL |