New Delhi, June 22: The Cabinet Committee on Disinvestment (CCD), meeting here tomorrow, is likely to consider disinvestment of Government equity in 46 PSUs over a three-year period with a view of mopping up upto Rs 1,00,000 crore.The proposal includes largescale disinvestment, indicative of privatisation, of 18 PSUs including at least four from the vital petroleum sector, highly placed sources said.In its last meeting, CCD is believed to have asked the newly-created Department of Disinvestment (DoD) to come up with a medium-term road map for three years besides suggesting a strategy for the current financial year.Sources said the proposal might evoke sharp reactions from other concerned ministries, including petroleum and heavy industry.DoD had earlier said the government should expeditiously clear more PSUs for disinvestment to ensure that there were no slippages in attainment of the targeted Rs 10,000 crore for the current financial year.Sources said that finance ministry is apparently backing the DoD in its efforts to garner more money through selling of government stake than the target outlined in the current financial year's budget. Besides seeking clearances for more PSUs, DoD is also expected to ask for more powers for effective disinvestment process by citing various factors and cumbersome procedures of decision-making that involves a number of ministries.As part of empowerment, DoD has sought powers to appoint global advisors to ensure that disinvestment decisions were executed in a time-bound manner.Deputy chairman of the Planning Commission told PTI that "hopefully the CCD meeting tomorrow will put in place a proper disinvestment policy" that would help cut delays.For the current financial year, CCD is likely to consider disinvestment in at least 18 PSUs including largescale sale of government equity in five companies.Sources said PSUs proposed for largescale transaction in the first year of disinvestment are - Hindustan Petroleum Corporation (HPCL), Indian Petro Chemicals (IPCL), Rashtriya Ispat Nigam Ltd (RINL), Videsh Sanchar Nigam Ltd (VSNL) and Maruti Udyog Ltd (MUL).According to sources, most of the PSUs reviewed for divestment in next three years were from those which were examined by the erstwhile disinvestment commission headed by G V Ramakrishna.Thirteen PSUs have been proposed for small transaction in the first year including Indian Airlines, Indian Tourism Development Corporation (ITDC), Bharat Aluminium Corporation (Balco), State Trading Corporation (STC) and Mines and Minerals Trading Corporation (MMTC), sources said.Besides seeking clearances for more PSUs, DoD is also expected to ask for more powers for effective disinvestment process by citing various factors and cumbersome procedures of decision-making that involves a number of ministries.
