Bharat Heavy Electricals Limited (BHEL) and National Aluminium Company Ltd (Nalco) could come up for disinvestment this financial year. Proposals from them for divestment are at various stages. Once the process is through, they will be able to seek Government approval, the Finance Minister, Mr Pranab Mukherjee informed the Lok Sabha on Friday.
In the case of BHEL, the disinvestment proposal could be for a 5 per cent stake sale. For Nalco, the Centre may look at 10 percent disinvestment.
Approved Cases
The Centre has already approved disinvestments in ONGC, SAIL, Hindustan Copper Ltd and National Building and Construction Corporation (NBCC). For 2011-12, the Centre had budgeted disinvestment receipts of Rs 40,000 crore. In the current financial year, the Government has till date mopped up Rs 1,144.55 crore, being the divestment receipts from a 5 percent stake sale in Power Finance Corporation (PFC).
The Finance Minister, Mr Pranab Mukherjee also told the Lok Sabha today that he would keep in view the market conditions before going ahead with the actual stake sale.
“I am fully aware of the current volatile situation in markets. Surely not only me, any prudent finance minister would not like to dispose off valuable assets cheaply. When we go to the market we shall have to keep in view the market condition. We cannot sell our valuable assets at a condition, at a market situation where we will not get the adequate prices,” he said.
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