“...let’s have a good process and shoot beyond any (disinvestment) target. I think it is sensible, we will get maximum amount,” Planning Commission member Arun Maira told reporters on the sidelines of a CII function on multinational corporations in India here.
He further said it is better to straighten the process rather than setting big targets for disinvestment and missing them.
“I am not aware of any precise target, but the process is good. One approach is to set up big target, but without a good process you don’t achieve the target,” he said.
On objections by trade unions to disinvestment, Maira said, “I think it is being done in such a sensitive way. I don’t anticipate any serious objection...Few people will object but I sense large number of people will say it’s ok let it go”.
The government has recently decided that all the profitable listed companies have to raise the public holding up to 10 per cent of their capital, as mandated by market regulator Securities and Exchange Board of India. It was also decided that the unlisted profitable PSUs should endeavour to go public.
More than 100 PSUs, including various blue chip companies like NMDC, MMTC and BSNL, would have to come out with public offers to offload government holding.
Finance Minister Pranab Mukherjee had only set a token target of about Rs 1,000 crore in his budget for the current fiscal.
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