Finmin confident to meet Rs 40,000 cr disinvestment target

The govt is diluting its 10 pct stake in Coal India Ltd through a public offer to raise Rs 16,000 crore.

Despite only Rs 2,000 crore mopped in the first half through disinvestment,the finance ministry today said it is “confident” of meeting the Rs 40,000 crore target for the current fiscal,as there is enough appetite in the market.

“We are confident of meeting the Rs 40,000 crore target…there is enough appetite in the market,” Disinvestment Secretary Sumit Bose told reporters here.

He further said that disinvestment in many big ticket companies,including IOC,ONGC,SAIL,Coal India and Power Grid are expected in the current fiscal.

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“We expect IOC,ONGC disinvestment in the current fiscal,” Bose added.

Aiming to raise Rs 40,000 crore through disinvestment this fiscal,the government has mopped up over Rs 1,000 crore by divesting stake in Satluj Jal Vidyut Nigam,and around Rs 1,000 crore through Engineers India FPO.

Besides,the government plans to sell 5 per cent stake in Oil and Natural Gas Corp (ONGC) and 10 per cent in Indian Oil Corp (IOC) to raise about Rs 21,000 crore this fiscal,Oil Secretary S Sundareshan had said.

The government is diluting its 10 per cent stake in Coal India Ltd (CIL) through a public offer to raise Rs 16,000 crore.

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At present,the government owns a 100 per cent stake in the company.