NEW DELHI, DEC 23: The Indian Government and Suzuki Motor Corporation of Japan, 50:50 joint venture partners in Maruti Udyog Limited, today categorically stated that the present equity structure in the country's largest car manufacturing company will be retained.While Heavy Industries Minister Manohar joshi ruled out dilution of government stake in MUL, SMC president and chief executive officer O Suzuki said his company is satisfied with the present equity structure and does not intend to buy the government's holding. ``The government does not have in mind any question of diluting its stake in MUL,'' Joshi told mediapersons after addressing a seminar oganised in honour of the visiting SMC president and CEO here.When asked from where the fresh funds will come if the government does not shed its stake, the Minister said investment has already been made for the new models that MUL is rolling out, and there is no need for immediate fresh investments.``In due course of time, when the new investmentrequirement arises, we will think over it,'' he added. MUL is launching Wagon R on December 25 and Alto some time early next year.To a question on why the government is obstinate about retaining its share, Joshi said it is for making India strong. Recent reports in a section of the press indicated that the government might reduce its stake in MUL below 50 per cent and General Motors had shown interest to buy the government's equity.Suzuki said MUL requires Rs 300 crore to manufacture any new model. He refused to comment on company's plans for new models during the next fiscal.
