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Govt to get maximum amount from disinvestment: Plan panel

Govt to get maximum amount from disinvestment: Plan panel
PTI
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First Published: Mon, Nov 09 2009. 07 13 PM IST
Updated: Mon, Nov 09 2009. 07 13 PM IST
New Delhi: Planning Commission on Monday said that the government will be able to raise maximum amount possible from the disinvestment as it is pursuing the right process for offloading its stake in state-owned companies.
“...let’s have a good process and shoot beyond any (disinvestment) target. I think it is sensible, we will get maximum amount,” Planning Commission member Arun Maira told reporters on the sidelines of a CII function on multinational corporations in India here.
He further said it is better to straighten the process rather than setting big targets for disinvestment and missing them.
“I am not aware of any precise target, but the process is good. One approach is to set up big target, but without a good process you don’t achieve the target,” he said.
The government has recently decided that all the profitable listed companies have to raise the public holding up to 10% of their capital, as mandated by markets regulator Securities and Exchange Board of India (Sebi). It was also decided that the unlisted profitable PSUs should endeavour to go public.
The government has already raised more than Rs4,000 crore from sale of its shares in NHPC and OIL during the current fiscal and has approved disinvestment in other companies like Rural Electrification Corporation, Sutluj Jal Vidyut Nigam and NTPC.
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First Published: Mon, Nov 09 2009. 07 13 PM IST