No decision on Bhel, other PSUs selloff

New Delhi, April 19 | Updated: Apr 20 2005, 05:30am hrs
The government is yet to take a decision on disinvestment in navratna company Bhel and other public sector companies for the current fiscal.

No specific decision in regard to Bhel has been taken, minister of state for finance S S Palanimanickam said in written reply to the Rajya Sabha.

The current policy of the government evnisages that the existing navratna companies will be retained in the public sector and profit making companies will not be generally privatised, he said.

The government may, ensuring that it retains at least 51% of the equity and the management control of the public sector enterprise, sell minority shares either in conjunction with the proposal of the concerned PSEs to raise funds from the market or otherwise, he said.

To another question, Mr Palanimanickam said no decision has been taken so for disinvestment of any specific public sector enteprise in 2005-06.

Subsidies: based on wider discussions with stakeholders and after due consultations, a policy on targetting subsidies, mainly explicit ones on food, fertiliser and petroleum, would be evolved, he said in reply to another question.

Senior citizens: the government has received representations that the tax structure proposed in the Finance Bill, 2005 has adversely affected the interests of the senior citizens and the pensioners, Mr Palanimanickam said.