Disinvestment kitty: Govt eyes best 'first half' in 7 years
August 24, 2015 08:55
Looking to garner Rs 9,300 crore from Indian Oil share sale today, the government expects its disinvestment kitty so far this fiscal to swell to Rs 12,600 crore -- making it the best 'first-half' in 7 years.
So far, the government has sold minority stake in three PSUs -- PFC, REC and Dredging Corp -- to raise over Rs 3,300 crore so far this fiscal. It has scheduled a 10 per cent stake sale in Indian Oil Corp today.
"We have already completed three issues and on Monday we will have the fourth one. Although we are more than a month to go from the first half to end, this will be the best ever first half in past seven fiscals," Disinvestment Secretary Aradhana Johri said.
In the first half of the last fiscal 2014-15, the Department of Disinvestment could not divest stake in a single PSU, while in the same period of 2013-14 it had sold stake in six PSUs to garner Rs 1,300 crore.
In first six months of 2012-13 as well, no divestment took place, while one issue could materialise in the same period of 2011-12 to collect Rs 1,500 crore.
In the first-half of 2010-11, DoD garnered Rs 2,400 crore through minority stake sales in PSUs, while the figure for the first half of 2009-10 was Rs 4,200 crore.
The disinvestment department has been set a mammoth target of Rs 69,500 crore in the current fiscal. Of this, Rs 41,000 crore is expected to come from minority stake sale in PSUs, and another Rs 28,500 crore from strategic stake sales.
So far this fiscal, Indian equity markets have been volatile amid slump in Chinese market and Greek crisis and fears of impending rate hike by the US Federal Reserve.
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