Economy

Govt may go for stake sale in BHEL, Nalco

K. R. Srivats New Delhi | Updated on March 12, 2018 Published on August 19, 2011

Bharat Heavy Electricals Ltd (BHEL) and National Aluminium Company Ltd (Nalco) may become disinvestment cases this financial year. Proposals for divestment in these two entities are at various stages before seeking Government approval, Lok Sabha was informed on Friday.

The Centre has already approved divestment in ONGC, SAIL, Hindustan Copper Ltd and National Building and Construction Corporation (NBCC). For 2011-12, the Centre had budgeted divestment receipts of Rs 40,000 crore. In the current financial year, the Government has till date mopped up Rs 1,144.55 crore, being the divestment receipts from 5 per cent stake sale in Power Finance Corporation.

In the case of BHEL, the divestment proposal could be for 5 per cent stake sale. For Nalco, the Centre may look at 10 per cent. The Cabinet is yet to formally consider these two proposals.

The Finance Minister, Mr Pranab Mukherjee, also told the Lok Sabha today that he would keep in view the market conditions before going ahead with the actual stake sale. “I am fully aware of the current volatile situation in markets. Any prudent Finance Minister would not agree to sell CPSE equity cheaply,” Mr Mukherjee said.

Published on August 19, 2011
null
This article is closed for comments.
Please Email the Editor