Well disinvest when mkts favourable: FM

Finance Minister Pranab Mukherjee on Tuesday said the shares of profit-making public sector units (PSUs) will be made public as soon as the markets become favourable. His statement came on a day power utility NHPC announced the sale of equity from August 7. Asserting that disinvestment was a continuous exercise,he said some of the PSUs having high profits were under consideration and various steps were being taken. However,PSUs which have received navratna status were not being considered for disinvestment,he said.

We will try to get the maximum advantage from the market. And,when the market is in a favourable condition,we would like to take advantage of that. Even after taking the decisions,reviewing the market conditions,those shares were not offered, he told the Rajya Sabha. He said the governments policies were clear as far as disinvestment was concerned. Fifty-one per cent of the shares will be retained. Banks and financial institutions will be under the control and management of the government and a small portion (which is) profitable and which will fetch a very attractive price will be off-loaded to the people because they should have some interest in it.

Mukherjee said the disinvestment policy was not a new one and pointed out that the common minimum programme of the UPA-I had also stated the governments views on disinvestment.