Disinvestment to bring in Rs.40,000 crore by 2010-11

Kolkata, Oct 19 (Calcutta Tube) Disinvestment Secretary Sumit Bose Monday said the government would mop up the targeted Rs.40,000 crore through disinvestment in public sector units in fiscal 2010-11 as proposed in the budget.

‘We will mop up targeted Rs.40000 crore in 2010-11, of which Rs.20,000 crore will come by this calendar year end,’ he told reporters on the sidelines of Coal India Limited initial public offer press meet.

The follow-on offer of Power Grid Corp of India Ltd, the state-owned power transmission company, would take place after Diwali while that of Hindustan Copper Ltd would be done in the first week of December, he said.

The government also aims to complete issues of Manganese Ore India Ltd in the 2010 calendar year. Shipping Corporation of India is also expected to happen by December.

Next in the line are SAIL, Indian Oil and Oil and Natural Gas Corp, which would happen by March, Bose said.

As per the government policy, all listed profitable PSUs should have a public holding of at least 10 per cent and all profitable unlisted PSUs should be listed.

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