Government likely to kick start disinvestment process in September

NEW DELHI: The government today said it expects to come out with first public offer as part of Rs 30,000 crore disinvestment programme next month.

"I think you can look at those situations, if not early, certainly in September...I think that is the best case," Disinvestment Secretary Haleem Khan said replying to a query on when the first issue would come out in the view of the current market conditions.

He, however, did not specify on the first public sector company to go for disinvestment.

Last month, the initial public offer( IPO) of Rashtriya Ispat Nigam Ltd ( RINL) was deferred by the government in view of the weak market conditions.

The Rs 2,500 crore RINL issue was originally proposed for July.

Asked whether the disinvestment target of Rs 30,000 crore for the current fiscal would be met, Khan said he is confident of meeting the target.

"I am as confident as I was on April 1. So, there is no problem about the target. The process has to go through and the process is taking a little while," he said on the sidelines of an event organised by PHD Chamber here.

In 2011-12, the government missed the disinvestment target, managing to raise only about Rs 14,000 crore against the Rs 40,000 crore target.