NEW
DELHI:
Riding high on the success of privatisation of IBP and Videsh Sanchar
Nigam, the government is likely to mop up at least Rs 7,000 crore from
disinvestment of various PSUs in the current fiscal.
The government
has already been successful in garnering about Rs 5,472.8 crore from
disinvestment of six companies -- including some properties of Hotel
Corporation of India and ITDC till now -- besides the amount mopped
up through special dividend in case of the big ticket privatisation
of telecom monolith VSNL.
"We would
now take up other PSUs, which are slated for disinvestment in the current
fiscal including IPCL, MUL and HZL," Disinvestment Minister Arun Shourie
said, but declined to hazard a guess as to what would be the level of
realisation from disinvestment in the current fiscal.
Ministry
officials, however, indicated the government is likely to mop up at
least Rs 7,000 crore from disinvestment of PSUs in 2001-02.
The trumpcard
for the sell-off process has been the privatisation of VSNL, which has
brought to the government coffers a whopping Rs 3,689 crore -- including
Rs 1,439 as the sale price to Tatas, Rs 1,887 crore as dividend and
Rs 363 crore as dividend tax -- while in case of IBP the realisation
has been to the tune of Rs 1153.6 crore.
In other
PSUs such as IT company CMC, the government garnered Rs 152 crore, while
HTL brought to its coffers about Rs 55 crore.
The government
has put on disinvestment block 13 PSUs for sale in the current fiscal
including Maruti, Hindustan Zinc, Indian Petrochemicals, Jessop and
has been working towards a disinvestment target of Rs 12,000 crore.
With CCD
on Tuesday finalising the sale of IBP and VSNL and some properties of
HCI and ITDC, Disinvestment Department can now boast of moving closer
to the disinvestment target.
The nine
properties of ITDC has brought Rs 180.6 crore and another Rs 242.5 crore
was realised from sale of three HCI properties although no bids were
received for six properties, including Ashok, Janpath, and Kanishka.
With just
two months to go for close of the current financial year, Government
would now take up disinvestment of Paradeep Phosphates, NEPA, Jessop,
Instrumentation, BHPV, besides IPCL, MUL and HZL.
