Piyush Goyal: Will not cut govt stake in power PSUs below 51%

New Delhi :  Supporting Finance Ministry’s disinvestment plan for public sector undertakings, Union Minister Piyush Goyal has said his ministry will not reduce the government’s stake in power sector PSUs below 51 %.

“Finance Minister can do whatever (as much disinvestment) he wants to do. We will support him. But we will not go for (reducing government stake) below 51 %. That is what we had announced for CoaI India and our other PSUs,” Power, Coal, New and Renewable Energy Minister Goyal told PTI.   Elaborating further he said: “Management and control of the PSUs should remain with the government. Last year divestment in PFC and REC was done. If they want then we are ready for another round.”

The government has set a disinvestment target of Rs 56,500 crore for the fiscal. Of this, Rs 36,000 crore is to come from minority stake sale in PSUs and Rs 20,500 crore from strategic sale. The government has already kick-started the disinvestment programme for the current fiscal with 11.36% stake sale in NHPC, which fetched Rs 2,700 crore.

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