Finance Minister Arun Jaitley has said the government will sell 10 per cent stake each in Hindustan Aeronautics (HAL) and Rashtriya Ispat Nigam (RINL) and 5 per cent in Steel Authority of India (SAIL) in the current financial year.
In a reply to a question in Lok Sabha on Friday, the finance minister also said the Cabinet Committee on Economic Affairs (CCEA) has approved the residual stake sale in Hindustan Zinc (HZL) and Balco.
He said the CCEA gas already approved disinvestment in SAIL, RINL and HAL.
"Disinvestment in these three companies is tentatively scheduled for completion in 2014-15. In order to meet budgetary targets, some more CPSEs have been identified for disinvestment during 2014-15. Disinvestment in these CPSEs will be subject to approval of the CCEA," Jaitley added.
The government has budgeted to raise Rs 43,425 crore through disinvestment in the current fiscal, higher than Rs 40,000 crore raised in 2013-14.
Besides the Budget has estimated Rs 15,000 crore to come from residual stake sale in erstwhile PSUs HZL and Balco. The government, which currently holds 29.5 per cent stake in HZL and 49 per cent stake in Balco, is looking at exiting the two firms in which Anil Agarwal-led Vedanta Group holds the majority stake. The government had sold controlling stake in these companies between 2001-2003.
Copyright©2021 Living Media India Limited. For reprint rights: Syndications Today