The Government is confident of raising Rs 40,000 crore through disinvestment of public sector units (PSUs) by March-end next year, Mr Praful Patel, Union Minister for Heavy Industries and Public Enterprises, said here on Monday.

Allaying apprehensions about whether the target was achievable, Mr Patel said the Government had already identified the companies for this purpose. “These Ratnas, Miniratnas and Maharatnas have immense potential and account for over one-third of the market capitalisation,” Mr Patel told reporters on the sidelines of a Federation of Indian Chamber of Commerce and Industry Annual General Meeting.

In his Budget proposals for 2011-12, the Finance Minister, Mr Pranab Mukherjee, set the target of raising Rs 40,000 crore through disinvestment of PSUs in the next fiscal. In three years, the Government intends raising Rs 95,000 crore through disinvestment of PSUs, Mr Mukherjee had said.

In the current fiscal, Coal India, Power Grid Corporation of India, Satluj Jal Vidyut Nigam, Engineers India Ltd, Shipping Corporation of India and Manganese Ore India Ltd are some of the companies that went in for disinvestment.

Lamenting slippages in investment in the manufacturing sector, Mr Patel said these need to be urgently addressed. “At the same there is need to give autonomy and flexibility to public sector Maharatna and Navratna companies. Unless that happens, a level-playing field will not be available to the public sector and it would not be able to attract the best of talent,” he said.

 

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