The disinvestment department has a “roadmap” for diluting government stake in public sector enterprises and it will be implemented, Economic Affairs Secretary Shaktikanta Das said today.
“They (Department of Investment and Public Asset Management) have a roadmap. They have a plan and the revenue should be mobilised by mix of instruments by disinvestment as well as by disposal of certain assets of individual public sector companies…There is a roadmap, it will be implemented,” he told reporters in reply to a question.
The government has set a disinvestment target of Rs 56,500 crore for the current fiscal. Of this, Rs 30,000 crore will come from minority stake sale and the remaining Rs 26,500 crore from strategic stake sale. It has already raised Rs 2,700 crore through 11.36 per cent stake sale in NHPC.
It recently floated bids to select merchant bankers for managing the share sale in several companies, including OIL, NFL, RCF, MMTC and STC.
In April, the government informed Parliament that some PSEs in sectors like oil, energy and capital goods have been identified for disinvestment.
In line with Budget 2015-16, the Cabinet Committee on Economic Affairs has approved the structure for ‘strategic disinvestment’ of state-owned enterprises.