New Delhi :  The government is looking to sell 5 % stake in SAIL and 10 % each in RINL and HAL in the current fiscal, besides an outright sale of Tyre Corporation of India.

The disinvestment of 10 % through an initial public offer (IPO) in Rashtriya Ispat Nigam Ltd (RINL) is “tentatively scheduled for completion in the current financial year”, Finance Minister Arun Jaitley informed the Lok Sabha. He further said that 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 government considers outright sale of a CPSE only when all efforts to revive that 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 (TCIL),” Sitharaman said. Sitharaman further said that the Cabinet has already approved 10.82 % stake sale in SAIL and an IPO of 10 % of stake in each of RINL and Hindustan Aeronautics Ltd (HAL).

In the Budget, the government has estimated to collect Rs 43,425 crore from selling stake in PSUs and another Rs 15,000 crore from sale of residual stake in the erstwhile government companies.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Free Press Journal

www.freepressjournal.in