Balco may be divested by end of FY06
Talks of compromise between the ruling UPA and its Left allies over disinvestment notwithstanding, the government will be able to sell residual stake in only one company - Balco - before the end of this fiscal, but that too hinged on several factors.
By PTI |
NEW DELHI: Talks of compromise between the ruling UPA and its Left allies over disinvestment notwithstanding, the government will be able to sell residual stake in only one company - Balco - before the end of this fiscal, but that too hinged on several factors.
"The Union Cabinet has given its nod to the sale of government shares in couple of PSUs but in the remaning part of 2005-06 only sale of 49 per cent shares in Balco would be possible. But even that depends on many factors," sources said.
Though the SBI Capital Markets is doing the valuation of government's holding in Balco, finance ministry officials are still not sure that everything would work as per plan.
They feel that the sale would depend on how the 49 per cent government stake in Balco is valued by the advisors.
"The advisors are expected to submit their report in a few weeks," sources said.
Finance minister P Chidambaram has already said that the government is expecting a good return from the sale of residual stake in the aluminium company.
"The Union Cabinet has given its nod to the sale of government shares in couple of PSUs but in the remaning part of 2005-06 only sale of 49 per cent shares in Balco would be possible. But even that depends on many factors," sources said.
Though the SBI Capital Markets is doing the valuation of government's holding in Balco, finance ministry officials are still not sure that everything would work as per plan.
They feel that the sale would depend on how the 49 per cent government stake in Balco is valued by the advisors.
"The advisors are expected to submit their report in a few weeks," sources said.
Finance minister P Chidambaram has already said that the government is expecting a good return from the sale of residual stake in the aluminium company.
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