Disinvestment process to start in 2-3 month, says Mayaram

The government will sell part of its stake in some state-run companies in the next two to three months, Finance Secretary Arvind Mayaram said on Saturday, without naming any company.

The government has set a target of $10.5 billion from asset sales during the current fiscal year to March 2015 to help plug its deficit.The finance ministry this week short-listed banks to manage share sales in top energy explorer Oil and Natural Gas Corp and hydroelectric power generator NHPC Ltd , according to sources with direct knowledge.

(Reuters)