It is for Cabinet to decide on BSNL's public issue: Raja

COIMBATORE: Communication and IT Minister A Raja on Friday said it was for the Cabinet to decide on when BSNL should go public.

"It is for the Cabinet to decide. It will be discussed by the Disinvestment Ministry, if at all there is any move (to come out with public issue)," he said.

The government had earlier proposed to divest 10 per cent stake in the telecom PSU whose fiancials are in a poor state, but the timing is yet to be decided.

Recently, Disinvestment Secretary Sunil Mitra had said that he hoped BSNL IPO would happen in the coming year (2010-11).

"I can't say exactly when, but I certainly hope that it does happen because BSNL does need to open up to public ownership primarily with a view to strengthen its own management and its accountability," he had said.

The PSU has been negotiating with the adamant trade unions, which have been opposing any disinvestment as they (unions) feel that it (disinvestment or listing) would serve no interest of their people.