FinMin to use Facebook, Twitter to push disinvestment

The government is looking at using the social media platforms, including Facebook and Twitter, to generate interest in its disinvestment programme among investors, high networth individuals and opinion makers. The department of disinvestment (DoD) in the finance ministry will hire an advertising or public relation (PR) agency for the purpose.

DoD said the agency will carry out advertising/PR work for sale of government holdings in state-owned firms through market instruments such as, Initial Public Offers, Further Public Offers and Offers for Sale.

Besides print and television media, the agency will be required to disseminate information about stake sale through "social media including text and voice services as well as social networking services". It will also have to conduct public relations exercise s through news feeds, blogs and chat shows.

DoD aims to target domestic institutional investors, foreign institutional investors, retail investors, high net worth individuals, policy makers and opinion makers like analysts and broking community.

The communication partner, to be hired initially for one year, will assist DoD in formulating a "smart, multimedia communication strategy"and an related work plan. "The agency will formulate and execute awareness outreach programmes in support of the work of the department to optimise participation of retail and institutional investors and influence opinion makers within regulatory requirements," DoD said.

The government is facing a daunting task in meeting the Rs 43,425 crore disinvestment target for the current financial year ending March, as against total proceeds of less than Rs 1,800 crore collected so far in 2014-15.