This Article is From Jul 25, 2014

SAIL, RINL, HAL on Disinvestment Pipeline This Fiscal: Jaitley

New Delhi:

Finance Minister Arun Jaitley on Friday said the government will sell 10 per cent stakes each in Hindustan Aeronautics Ltd (HAL) and Rashtriya Ispat Nigam Ltd (RINL), and a 5 per cent stake in SAIL in the current fiscal year (2014-15).

In a reply to a question in Lok Sabha, he also said the Cabinet Committee on Economic Affairs (CCEA) has approved the residual stake sale in Hindustan Zinc (HZL) and Balco.

He said the CCEA gas already approved disinvestment in SAIL, RINL and HAL. Disinvestment in these three companies is "tentatively scheduled for completion in 2014-15".

"In order to meet budgetary targets, some more CPSEs have been identified for disinvestment during 2014-15. Disinvestment in these CPSEs will be subject to approval of the CCEA," Mr Jaitley added.

The government has budgeted to raise Rs 43,425 crore through disinvestment in the current fiscal year, higher than Rs 40,000 crore raised in 2013-14.

Besides, the Budget has estimated Rs 15,000 crore to come from residual stake sale in erstwhile PSUs HZL and Balco.

The government, which currently holds a 29.5 per cent stake in HZL and 49 per cent in Balco, is looking at exiting the two firms in which Anil Agarwal-led Vedanta Group holds a majority stake. The government had sold a controlling stake in these companies between 2001 and 2003.