The department of disinvestment is in talks with administrative departments of several central public sector enterprises (CPSEs) to expand the list of entities in which Government can shed some equity during current fiscal.
This was stated by the Minister of State for Finance, Mr S.S.Palanimanickam in a written reply to a Lok Sabha question. Already, the Government has approved disinvestment of 5% equity capital of Oil and Natural Gas Corporation, 5 percent equity capital of Bharat Heavy Electricals Limited and 10 percent paid-up capital of National Building Corporation Limited.
Other cases of disinvestment at various stages of approval are Rashtriya Ispat Nigam Limited, Hindustan Aeronautics Limited, Steel Authority of India Limited and Hindustan Copper Limited, Mr Palanimanickam said.
He also said in the written reply that the proposal for enabling department of disinvestment to respond to the decision of a listed CPSE having surplus cash to buyback their shares have been formulated for seeking government approval.
The buyback decision is to be taken by the Board of Directors of the CPSE concerned, keeping in view all factors, the Minister added.
As against disinvestment target of Rs 40,000 crore, the Centre has so far mopped up only Rs 1144.55 crore, which came from divestment of 5 % equity stake of Power Finance Corporation.