<p> The Cabinet today deferred a decision on selling 10.82 per cent stake in Steel Authority of India Ltd (SAIL) as Steel Minister Beni Prasad Verma was away on official tour.<br /><br /></p>.<p>The Steel Minister is in Tokyo on an official tour and could not attend the Cabinet meeting.<br />In the absence of Verma and Steel Secretary, who is also in Tokyo, the Cabinet did not take up the proposal moved by the Department of Disinvestment, sources said.<br /><br />The government has set a target of raising Rs 30,000 crore this fiscal by selling stakes in 15 companies including about 10 per cent in SAIL.<br /><br />The 10.82 per cent stake sale is likely to fetch about Rs 4,000 crore at current market price.<br />Government owns 85.82 per cent of the company.</p>
<p> The Cabinet today deferred a decision on selling 10.82 per cent stake in Steel Authority of India Ltd (SAIL) as Steel Minister Beni Prasad Verma was away on official tour.<br /><br /></p>.<p>The Steel Minister is in Tokyo on an official tour and could not attend the Cabinet meeting.<br />In the absence of Verma and Steel Secretary, who is also in Tokyo, the Cabinet did not take up the proposal moved by the Department of Disinvestment, sources said.<br /><br />The government has set a target of raising Rs 30,000 crore this fiscal by selling stakes in 15 companies including about 10 per cent in SAIL.<br /><br />The 10.82 per cent stake sale is likely to fetch about Rs 4,000 crore at current market price.<br />Government owns 85.82 per cent of the company.</p>