New Delhi: The government is looking to sell a 5% stake in Steel Authority of India Ltd (SAIL) and 10% each in Rashtriya Ispat Nigam Ltd (RINL) and Hindustan Aeronautics Ltd (HAL) in the current fiscal, besides selling the Tyre Corp. of India Ltd (TCIL).

The disinvestment of 10% through an initial public offer (IPO) in RINL is “tentatively scheduled for completion in the current financial year", finance minister Arun Jaitley said in a written reply to the Lok Sabha.

He further said that the 5% stake sale in SAIL is also scheduled for completion this fiscal.

In a separate reply, minister of state for finance Nirmala Sitharaman said that the government considers outright sale of a central public sector enterprise (CPSE) only when all efforts to revive a loss-making or sick CPSE fails.

“The department of disinvestment is presently engaged in disinvestment of only one such CPSE, namely Tyre Corporation of India," Sitharaman said.

Sitharaman further said that the Cabinet has already approved a 10.82% stake sale in SAIL and an IPO of 10% of its stake each in RINL and HAL.

Further, the Cabinet has also approved sale of residual government equity in Hindustan Zinc Ltd and Bharat Aluminium Co. Ltd (Balco).

In the 2014-15 Budget, the government has estimated it will collect 43,425 crore from selling stakes in public sector undertakings (PSUs) and another 15,000 crore from sale of residual stake in the erstwhile government companies.

“The disinvestment targets were not achieved during the last three years. The government will make disinvestment process more effective in order to achieve the budgetary target of the current year," Sitharaman added.

Of the disinvestment target of 40,000 crore in 2013-14, the government had mobilized 15,820 crore. In 2012-13, of the 30,000 crore target, 23,957 crore was raised. In 2011-12, only 13,894 crore was raised of the 40,000 crore target.

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