New Delhi: Asking for a disinvestment target of minimum Rs25,000 crore annually, the Economic Survey suggested for selling of a minimum 10% stake in all unlisted public sector enterprises and auctioning of those that can’t be revived.
“Revitalize the disinvestment programme and plan to generate at least Rs25,000 crore per year,” said the Survey tabled in Parliament by finance minister Pranab Mukherjee on Thursday.
The prescription coincides with government declaring disinvestment as one of its top most priorities for mobilization of resources, particularly, as it is free from the pressures of the Left parties that had obstructed the process in the last five years.
Asking the government to sell a minimum of 10% equity in all profit-making unlisted PSUs, it said: “Complete the process of selling 5-10% equity in previously identified profit making non-Navratnas.”
And regarding the loss-making PSUs, the Survey said the government needs to “auction all loss making PSUs that cannot be revived. For those in which net worth is zero, allow negative bidding in the form of debt-write off.”
Finance minister Pranab Mukherjee is likely to unveil the road map for disinvestment in the Union Budget 2009-10, to be presented in the Lok Sabha on 6 July.