Govt to kick-start stake sale programme with Nalco offer

Notwithstanding the recent hiccups, the government on Friday said this year's disinvestment programme will kick off in October or November with an offering of its stake in National Aluminium Co (NALCO).

The public offer of Rashtriya Ispat Nigam Limited (RINL) which was postponed earlier this week will be revisited in a month or two, Disinvestment Secretary Haleem Khan said here on Friday.

The government aims to divest stakes in state-owned companies Oil India, Hindustan Copper and National Aluminium by November, Khan said on the sidelines of a Ficci event. "One of the divestments could take place by the last week of October," he said.

Khan said he is confident the government will meet the target. The government is also planning to sell shares in NTPC. That sale will raise about Rs 12,000 crore, he said.

The government plans to raise Rs 30,000 crore by selling stakes in several state-run companies this fiscal year through March as it looks to boost revenue and reduce its fiscal deficit.

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