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Renewed thrust on divestment

August 5, 2008

The government is gearing up to radically alter its approach to disinvestment. With the Left out of the equation, moves are afoot to offload equity in some big PSUs. OIL (Oil India) and hydro-power generator NHPC are on top of the list.

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What’s more, the government is also mulling appointing a full fledged Minister of State in the Finance Ministry who will be in charge of disinvestment. Says a senior official: “It’s being considered to kickstart the process, which has been languishing since the last four years.”

Under the UPA government, the Disinvestment Ministry was scrapped. In its place, a Department of Disinvestment was established under the Finance Ministry.

Rishi Joshi

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