Disinvestment realisation at Rs 4,777 cr till Oct 2002

NEW DELHI: Government today said that disinvestment realisation in the current financial year had touched Rs 4,777 crore till October 2002.
"While the realisation from disinvestment has been less than the targets, there has been an increasing trend in realisation (inclusive of expected realisation, control premium, dividends and transfer of surplus cash) since 1999-2000," Disinvestment Minister Arun Shourie said in a written reply in Lok Sabha.
The realisation, in the current financial year, was Rs 4,777 crore till October 2002, against Rs 5632 crore during 2001-02, and Rs 1,869 crore during 2000-01.
Shourie said there were 35 cases where the decision to disinvest had been taken and the disinvestment was in progress, and these include companies such as EIL, NFL, Balmer Lawrie and SCI amongst others.
In case of seven hotels in the joint sector, including Hotel Neelchal Ashok (Puri) and Hotel Bramputra Ashok (Guwahati), Government was in discussion with various State Governments, while in the case of oil companies HPCL and BPCL the disinvestment had been deferred for three months on September 7.
On Balco valuation, Shourie said "Government''s comments on the matter have been sent to CAG in December 2001 for enabling them to finalise their inspection report, which is still awaited,"
Dismissing allegations that value of BALCO had been depressed by Rs 302.37 crore by following the discounted cash flow method, he said "though the DCF method was considered most appropriate, the valuation of Rs 332 crore to Rs 507 crore obtained through this method was suitably adjusted upwards to set the reserve price of Rs 514.4 crore for 51 per cent of the equity of BALCO."