An Empowered Group of Ministers (EGoM) on Wednesday approved the auction route for selling 5 per cent stake in state-run oil major ONGC before the end of the current fiscal. The proposed disinvestment of government stake in BHEL has, however, been postponed to the next fiscal.
The EGoM, headed by Finance Minister Pranab Mukherjee, met to decide on stake sale in the two major PSUs with a view to mopping up about Rs 14,500 crore in the current fiscal, up from the Rs 1,145 crore raised so far.
With BHEL now out of the divestment agenda for the current fiscal, only the ONGC follow-on issue is expected to garner additional revenues of around Rs 12,000 crore for this fiscal year. The panel would meet again to decide on the time and base price of the stake sale.
more ar:
http://www.indianexpress.com/news/ONGC-stake-sale-gets-nod--BHEL-to-wait/912590/
Wednesday, February 15, 2012
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