The Narendra Modi government is looking at using the social media platforms, including Facebook and Twitter, in a big way to generate interest in its disinvestment programme among investors, high net worth individuals and opinion makers.
The Department of Disinvestment (DoD) in the Finance Ministry will hire an advertising or public relations agency for the purpose.
The DoD said the agency would carry out advertising/PR work for sale of government holdings in state-owned firms through market instruments such as Initial Public Offers (IPOs), Further Public Offers (FPOs) and Offer for Sale (OFS).
Besides print and television media, the agency will be required to disseminate information about stake sale through “social media including text and voice services as well as social networking services.”
It will also have to do public relations exercise through news feeds, blogs and chat shows.
The ‘communication partner’, to be roped initially for one year, will assist the DoD in formulating a “smart, multimedia communication strategy” and a related work plan.
The government is facing a daunting task in meeting the Rs. 43,425 crore disinvestment target for the current financial year ending March, as against total proceeds of less than Rs. 1,800 crore collected so far in 2014-15.
Year 2015 may see shares worth over Rs. 50,000 crore being put on the table by the government, including by way of part-sale of its holdings in PSUs and its residual minority stakes in some private sector entities.
