The Hindu : Divestment proceeds total Rs. 11,356 cr. in 3 years

Online edition of India's National Newspaper
Saturday, Mar 22, 2003

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Divestment proceeds total Rs. 11,356 cr. in 3 years

NEW DELHI MARCH 21. The Government has raised over Rs. 11,356 crores from disinvestment of public sector enterprises in the past three years.

The telecom major Videsh Sanchar Nigam accounted for almost a quarter chipping in with Rs. 3,689 crores followed by the auto major Maruti with an expected figure of Rs. 2,424 crores which could go as high as Rs. 3,158 crores upon completion of three tranches of disinvestment, an official release said.

IPCL accounted for Rs. 1,490 crores while oil marketing entity IBP pitched in with Rs. 1,153 crores followed by Balco at Rs. 826 crores and Hindustan Zinc at Rs. 445 crores.

Other PSEs, which were disinvested during the phase, include CMC (Rs. 152 crores), Paradeep Phosphate (Rs. 151 crores) and Modern Food (Rs. 105 crores).

The Government also divested several hotel properties including Centaur Mumbai (Rs. 83 crores), Centaur Juhu (Rs. 153 crores), Kanishka (Rs. 92 crores), Lodhi (Rs. 71 crores) and Indraprastha (Rs. 43 crores). — PTI

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