The government has cleared disinvestments in state-owned Indian Oil Corporation, IOC, and Bharat Heavy Electricals Limited, BHEL. The sale would fetch over 7,300 crore rupees to the exchequer in the current financial year. The decision to go ahead with stake sale of ten per cent in IOC and 5 per cent in BHEL was taken by the Empowered Group of Ministers on disinvestments Friday.The government will sell ten per cent stake in IOC to state run ONGC and OIL at a discount of 10 per cent, which would fetch about 5,300 crore rupees to the exchequer. Oil Secretary Vivek Rae said, the two companies will work out the deal and the stake sale will happen very shortly.As regards BHEL disinvestments, the government will sell five per cent of its stake through a block deal to state-owned LIC, which would fetch about 2,045 crore rupees to the exchequer.