The government today approved disinvestment of 10 per cent equity in Hindustan Aeronautics Limited, HAL out of its holding 100 per cent through Initial Public Offer, IPO in the domestic market. This decision was taken by the Cabinet Committee on Economic Affairs, CCEA in New Delhi today. Breifing the media after the meeting Finance Minister P Chidambram said five per cent discount on the issue price will be allowed for retail investors as well as to eligible employees of HAL. He said the disinvestment of HAL will take place in the next fiscal. Mr Chidambram also said that the government have to achieve the target of 30,000 crores rupees in the current fiscal through disinvestment.

The finance minister said, CCEA approved implementation and issuing fiancial saction to the 21 integrated textile parks sanctioned in the 11th Plan and to carry over the committed liability beyond 200 crore rupees amounting to 819 crore rupees into the 12th plan. The CCEA further approved the adoption of amendments in guidelines of the scheme to improve implementation.