Economy

FM asks officials to expedite disinvestment process

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Finance Minister P. Chidambaram has asked officials to expedite the process of disinvestment so that state-owned companies could hit stock markets in time and help the government achieve the target of Rs.30,000 crore in the current fiscal.



The meeting of officials, sources said, was called to review the progress made with regard to disinvestment, and prepare a roadmap for stake sale in PSUs.

Although four months have passed in the current fiscal, the government has not been able to come out with a single public issue.

Raising adequate funds from disinvestment, the sources said, was necessary to keep in check the fiscal deficit.

The government last month deferred the initial public offer (IPO) of Rashtriya Ispat Nigam Ltd. due to weak stock market conditions.

The Rs.2,500-crore RINL issue was originally proposed to hit the markets in July.

The Department of Disinvestment proposes to begin the stake sale process in September.

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Printable version | Dec 15, 2019 11:39:51 AM | https://www.thehindu.com/business/Economy/fm-asks-officials-to-expedite-disinvestment-process/article3799936.ece

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