Disinvestment of 4 PSUs likely to be completed in two months

MUMBAI: Disinvestment process in four public sector undertakings is likely to be completed over the next two months, a top government official said.

"The disinvestment process of NTPC, SAIL, Satluj Jal Vidyut Nigam and Rural Electrification Corporation will be completed in the next two months," Department of Heavy Industry and Public Enterprises' Secretary Bhaskar Chatterjee told reporters here.

The government recently decided that profitable listed companies have to raise the public holding to a minimum of 10 per cent of their capital and all profit-making unlisted PSUs should endeavour to go public.

It was decided that the funds raised through the selling of these stakes will go towards the capital expenditure for social sector schemes.

The government has identified 50 unlisted public companies and 10 listed companies in this regard.

"We hope it (disinvestment) will help the government to curb fiscal deficit," Chatterjee said.

According to him, five sick companies including National Film Development Corporation and Central Inland Water Transport Corporation have been referred to the Board of Restructuring Public Sector Enterprises (BRPSE).

The Board will decide on their fate, he said. Chatterjee said that of 214 companies under his department, 28 are under the revival process.