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| Decision on Maharatna tag likely by this month |
| Press Trust of India / New Delhi Nov 16, 2009, 21:41 IST |
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In a development that would add to the valuation of the public sector companies ahead of disinvestment, the government is likely to bestow the 'Maharatna' status to a handful of PSUs within a month.
"I think they (DPE) should be able to do before the end of the month," Cabinet Secretary K M Chandrasekhar said here when asked how soon the government would decide on the coveted status for the CPSEs.
The government is preparing a roadmap for disinvestment of about 60 PSUs, including SAIL, NMDC, CIL and NTPC.
At present, 18 CPSEs have the navratna status and 62 are miniratnas.
A navratna firm has the autonomy to take investment decisions up to Rs 1,000 crore without seeking government approval.
These firms have the liberty to enter into joint ventures with private sector companies on their own.
In its effort to grant higher autonomy to the best performing CPSEs, the government would choose a few of them as Maharatnas.
ONGC, NTPC, BSNL, IOC, SAIL and Coal India are the likely candidates for upgradation in their status. Of these, BSNL and Coal India are yet to be listed on the stock markets.
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