Disinvestment in three power PSUs -- NTPC, Rural Electrification Corporation and Satluj Jal Vidyut Nigam -- would be completed during the current financial year (FY10) while the process of selling stake in other profit-making PSUs is already underway. Finance Minister Pranab Mukherjee said in a statement in Rajya Sabha.
While in NTPC and REC, 5% stake each was being off-loaded, it’s 10% in SJVN through the capital market, he said.
This apart, the Department of Disinvestment has started dialogue with the administrative ministries and the central public sector undertakings (CPSUs) to assess their capital expenditure requirements to be raised through issue of fresh equity in case of other public sector undertakings.
Mukherjee said all CPSUs having positive net worth, no accumulated losses and having earned net profit for three preceding consecutive years, are to be listed through public offerings out of government shareholding or issue of fresh equity by the company or a combination of both. Also PSUs will comply with the new law of making atleast 10% floating equity, he added.
While in NTPC and REC, 5% stake each was being off-loaded, it’s 10% in SJVN through the capital market, he said.
This apart, the Department of Disinvestment has started dialogue with the administrative ministries and the central public sector undertakings (CPSUs) to assess their capital expenditure requirements to be raised through issue of fresh equity in case of other public sector undertakings.
Mukherjee said all CPSUs having positive net worth, no accumulated losses and having earned net profit for three preceding consecutive years, are to be listed through public offerings out of government shareholding or issue of fresh equity by the company or a combination of both. Also PSUs will comply with the new law of making atleast 10% floating equity, he added.
He said the proceeds from disinvestment would be channelised into National Investment Fund till March 2012 in select social sector programmes decided by the Planning Commission and Finance Ministry, he added.
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