Sell-off nets Rs 3,000 cr in first nine months

KOLKATA: The government has been able to mobilise Rs 3,000 - 3,500 crore by way of disinvestment during the first nine months of the current financial year, Disinvestment Minister Arun Shourie said on Tuesday.
The minister told reporters that the three months delay over the BPCL-HPCL sell-off had slowed the disinvestment process.
Asked whether the government would be able to reach the target of Rs 12,000 crore from disinvestment in the current financial year, Shourie sounded less hopeful, but added that three more months were left in the current financial year.
About the creation of a separate fund from disinvestment proceeds for re-training of workers, Shourie asked "where is the money?"
He said "money would have to be allotted for providing drinking water, creation of new assets and retirement of public debt."
"How can you play around with this meagre amount," the minister wondered.