The government is working to complete stake sale process of 23 public sector companies whose divestment has been cleared by the Cabinet, Finance Minister Nirmala Sitharaman said on Monday.
In an online conversation with Hero Enterprise Chairman Sunil Kant Munjal, she said the government is willing to listen to all issues being faced industry and has an open mind with regard to further measures that may be needed to support the economy. “We are open to every suggestion that is coming in. We have not closed any options,” she said.
To a query on whether the government will provide support to small finance banks (SFB) and non-banking financial companies (NBFCs), the minister said she would soon meet them to review their situation. Munjal said lower rated firms were finding it difficult to raise funding from banks. He also stressed the need for a special relief measures for sectors — travel and tourism — which have been specifically been hit by the Covid-19 pandemic’s impact on economic activity.
On disinvestment, the government wants to sell stake in public sector companies at a time when it fetches the right price.