Disinvestment in NALCO, MMTC, SAIL, RCF in 2012-13: Patel

The government today said it is likely to offload its stake in four PSUs -- NALCO, MMTC, Rashtriya Chemicals and Fertilisers (RCF) and SAIL -- in the 2012-13 fiscal.

"Disinvestment is carried out as per disinvestment policy for the government. In 2012-13, the government is expected to disinvest its stake in four public sector units--MMTC, SAIL, RCF and National Aluminium Company Ltd (NALCO)--in the current fiscal," Minister of Heavy Industries and Public Enterprises Praful Patel said in a written reply in Rajya Sabha.

The government had fixed Rs 30,000 crore as disinvestment target for the current fiscal. So far, it has been able to realise Rs 21,504 crore through stake sale in five companies including NBCC, Hindustan Copper, NMDC and NTPC.

Further, Patel said, the government has approved revival of 32 sick CPSEs including HMT Bearings, HMT Machine Tools, Hindustan Salts and British India Corporation as on date.

As on March 31, 2011, there were 63 sick Central Public Sector Enterprises (CPSEs) such as Tyre Corporation of India, ITI Ltd and NEPA Ltd.

The Board for Reconstruction of Public Sector Enterprises (BRPSE), which was established in December 2004, advises the government for strengthening, modernisation, revival and restructuring of ailing public sector units.