Business Standard

'Sell whatever is saleable': Govt aims to cut stake in PSUs to below 51%

"The government is proposing/planning to bring down its equity holding below 51 percent in select Central public sector enterprises."

PSUs sale

PSUs sale

Press Trust of India Mumbai
Terming privatisation as the top-most priority, a senior finance ministry official Thursday said the government will sell "whatever is saleable", and is also planning to breach the minimum 51 percent ownership level in select entities.

Getting down the government stake below 51 per cent will require amendments in the laws and will also ensure that these companies move beyond the remit of oversight agencies like the Central Vigilance Commission and the Comptroller & Auditor General.

The official explained that the Cabinet had in the past decided to own at least 51 percent in PSUs and it is the Cabinet itself which will

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 26 2019 | 7:31 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to