Encouraged by the response to its stake sale in Hindustan Copper, the government on Friday said disinvestment of its 10 percent shares in NMDC (National Mineral Development Corporation) is likely to take place in first half of December.
In an interview with CNBC-TV18, Hindustan Copper chairman and managing director KD Diwan explains that the sale of stake was successful and that the PSU would fund all its expansion plans through internal accruals.
With barely, five months left for meeting the divestment target of Rs 30,000 crore, disinvestment secretary Haleem Khan held a review meeting bureaucrats from various ministries.
Haleem Khan, secretary, department of divestment announced on Wednesday that it will not be difficult to meet the government's Rs 30,000-crore divestment target for FY13.
The government today said it expects to come out with first public offer as part of Rs 30,000 crore disinvestment programme next month.
Deteriorating market conditions have been spoiler making the government to think twice on the divestment targets. In an interview to CNBC-TV18, Divestment Secretary Haleem Khan said that adverse market conditions have made it difficult to achieve target.