New Delhi : The government’s Rs 43,425 crore disinvestment programme is on track and a schedule for sale of stake in state-owned firms will be announced shortly, Finance Minister Arun Jaitley said.

“The process (of disinvestment) is well on the way and the schedule will be announced (soon),” he said.

Last month, the government had approved diluting its equity stakes in Coal India Ltd (CIL), ONGC and NHPC. The stake sales in these three bluechip companies could fetch government about Rs 42,000-43,000 crore. Sources say the disinvestment in the three companies would be done through the Offer For Sale (OFS) process, popularly known as the auction route.

The government has already selected merchant bankers for managing ONGC and NHPC disinvestment and is in the process for doing so for CIL.

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