No strategic sale in CPSEs: Pranab

Ruling out strategic sale of Central PSUs, Finance Minister Pranab Mukherjee today said the government will follow the middle path and restrict public holdings in the CPSEs to 10 per cent.

"We are not going beyond 10 per cent...Not going for strategic sale. Management (of CPSEs) will be with the government", Mukherjee told the Rajya Sabha while replying to a calling attention motion on disinvestment of profit making Central public sector enterprises (CPSEs).

"Neither I want to be extra bold nor I want to be extravagant. I want to chart out a middle course. I am not going for outright privatisation," he said pointing out that disinvestment in NTPC, Rural Electrification Corporation and Satluj Jal Vidyut Nigam will be completed by March-end.

The Cabinet had earlier decided that all profit-making listed CPSEs should have at least 10 per cent of its equity with the public and all unlisted profitable CPSEs should get listed. The SEBI norms also require that all listed companies should have at least 10 per cent equity with the public.

The Finance Minister assured the Upper House members that the government would continue with its policy of restricting public holding in state-owned companies to 10 per cent during the tenure of the present government. "In the next five years, there will be no policy change with regard to 10 per cent," he added.