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Details on disinvestment soon: FM

Details on disinvestment soon: FM
PTI
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First Published: Tue, Jul 14 2009. 06 19 PM IST
Updated: Tue, Jul 14 2009. 06 19 PM IST
New Delhi: Firm on divesting stake in public sector undertakings(PSUs), finance minister Pranab Mukherjee on Tuesday said he has initiated talks with other ministries to identify PSUs where a portion of government equity could be sold and that details would be announced soon.
“My ministry has initiated discussions with other ministries and departments to identify public sector enterprises, where a portion of government shareholding could be sold or raise fresh equity by PSUs to meet their fund requirement,” he said in Lok Sabha, replying to the debate on Budget 2009-10.
“Details are being worked out and could be announced in due course,” he said, adding that requirements by PSUs could be for modernization, technical upgradation or expansion.
Commenting about the reactions of the stock markets, which tanked more than 879 points on the day of presentation of budget, as Mukherjee did not elaborate on government’s disinvestment agenda, he said there was expectation that the finance minister will also give a list of PSU companies from where disinvestment will take place.
“Unfortunately it did not happen. Therefore, I would not use the word frustration but there was a disappointment and this had an impact on the stock market,” he added.
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First Published: Tue, Jul 14 2009. 06 19 PM IST