Govt to sell stakes in three more firms

The government will sell stakes in three more state-run firms in the current fiscal,inlcuding Steel Authority of India Ltd,ONGC Ltd and Hindustan Copper.

Written by: ENS Economic Bureau

1 min readNew DelhiJan 7, 2011 02:24 AM IST First published on: Jan 7, 2011 at 02:24 AM IST

The government will sell stakes in three more state-run firms in the current fiscal,inlcuding Steel Authority of India Ltd,ONGC Ltd and Hindustan Copper.

SAIL FPO in February. ONGC will also come this fiscal. We are also looking at Hindustan Copper. It may come this fiscal, disinvestment secretary Sumit Bose said on Thursday on the sidelines of a SCOPE conference here. Bose said the government is on track to achieve the Rs 40,000 crore budgeted target for the financial year 2010-11 running from April-March.The government has already raised over Rs 22,000 crore in the current fiscal by divesting stake in PSUs like Coal India,SJVNL,Engineers India and Shipping Corporation.

The Cabinet,on December 1,approved sale of the government’s 5 per cent stake in oil major ONGC .