Divestment: Govt bags Rs 17,000 crhttps://indianexpress.com/article/news-archive/web/divestment-govt-bags-rs-17-000-cr/

Divestment: Govt bags Rs 17,000 cr

The government last month raised Rs 15,200 crore by selling 10 per cent stake in Coal India.

The government has already mopped up more than Rs 17,000 crore through disinvestment in the current financial year and is on course to achieve the Rs 40,000 crore target by fiscal year-end,a key official said on Wednesday.

“We have already collected about Rs 17,000-odd crore and with Power Grid (follow-on share offer),it will be coming to Rs 21,000 crore,” Additional Secretary in the Department of Disinvestment,Sidhartha Pradhan,said.

Next in the line for disinvestment in the current fiscal is Manganese Ore India Ltd,followed by Hindustan Copper Ltd,Shipping Corporation of India Ltd,Indian Oil Corporation and Steel Authority of India Ltd,he said.

Of this,10 per cent dilution in government stake in IOC and 5 per cent in SAIL would be the “major contributors” for meeting the target. “We will reach our target (mopping up Rs 40,000 crore in the current fiscal)”,Pradhan said.

The government last month raised Rs 15,200 crore by selling 10 per cent stake in Coal India. Earlier in the fiscal,it had raised Rs 1,000 crore each from share sale of SJVN Ltd and Engineers India Ltd.