Govt likely to sell 5% stake in PFC next week

State-run manganese miner MOIL could be next

The government is likely to sell a 5% stake in state-run Power Finance Corporation Ltd next week, a finance ministry source said, as the government scrambles to meet part of a near $10 billion share sale target before March 31.

"5% of PFC could be sold next week," a senior finance ministry official, who declined to be named as he was not authorised to speak to the media, told Reuters.

He also said that state-run manganese miner MOIL Ltd could be the next in line with a 10% stake sale.

It also plans to sell a 5% stake in state-run Dredging Corporation of India Ltd (DCIL), the country's largest dredging company, and has invited bids from merchant bankers.