Centre mulls divestment in blue chip PSUs

“We are looking at the possibility of carrying forward the ongoing exercise of PSU disinvestment on a larger scale in the next fiscal,” highly placed sources in the Finance Ministry indicated here on Saturday. An initial public offering of telecoms firm BSNL is also likely in the fiscal 2010-11, the sources said.

The PSU disinvestment exercise was virtually grounded in the first term of the Congress-led UPA government due to stiff opposition from the Left parties. The PSU disinvestment exercise started off with the current UPA government, which was re-elected for a second 5-year term after the general election in May last year, deciding to push forward shares in three select PSUs— power utility NTPC, Rural Electrification Corporation and Satluj Jal Vidyut.

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