The newly-appointed Finance Minister P Chidambaram is keen to revive divestment plans. The FM is targeting 15 sell-offs in FY13 with one sale in every 15 days, reports CNBC-TV18's Aakansha Sethi quoting finance ministry sources. Government's divestment target for FY13 is Rs 30,000 crore.
It is learnt that five proposals will be sent to cabinet secretariat next week and the decisions on divestment issues will now be taken by Cabinet Committee on Economic Affairs (CCEA). Earlier, decision on sale pricing was taken by EGoM. Also read: IPO, rights issue: Over 40 cos await SEBI nod
Meanwhile, cabinet nod for Oil India, MMTC, NALCO, Hind Copper and Neyveli Lignite is likely to be expected next week. Companies like SAIL, BHEL and RINL have already obtained cabinet nod for stake sale.
Last year, the government could not meet its divestment target, raising only Rs 14,000 crore as compared to Rs 40000 crore.
However, the government is likely to push divestment targets aggressively. According to sources, eight issues are likely to garner close to Rs 15,000 crore by December while finance ministry is narrowing down on seven more PSUs for divestment.
Sources also add that Coal India, IOC are not on divestment agenda. Meanwhile, residual stake sales of Hind Zinc and BALCO are not on table yet.
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