Govt targets Rs 55,814 cr from PSU stake sale in FY14

Finance Minister P Chidambaram has doubled the disinvestment target for next fiscal to Rs 55,814 crore, from Rs 24,000 crore estimated in the current fiscal.

The government had originally set the disinvestment target for current fiscal at Rs 30,000 crore, but as per revised estimates in the Budget for 2013-14, the actual collection was lowered to Rs 24,000 crore.

The department of disinvestment has already identified 20 PSUs for divesting minority stake and has initiated consultation with the administrative ministries and company officials for executing it on time.

Amongst the companies which have been identified for disinvestment next fiscal include Coal India, Indian Oil, Engineers India, PGCIL, NHPC, Neepco and THDCL.

Apart from this, Cabinet approval has already been accorded for disinvestment in Bhel, Neyveli Lignite and Hindustan Aeronautics.

Also the second tranche of Hindustan Copper (HCL) is likely in the April-June quarter of next fiscal.

With one month remaining for the current fiscal to end, four more companies — SAIL, NALCO, MMTC and Rashtriya Chemical and Fertilisers — are in the government list for stake sale by March 31, 2013.

The government has already raised Rs 21,504 crore through stake sale in Oil India, NTPC, NMDC and Hindustan Copper so far in the current fiscal.