Government has decided not to proceed for the time being with the disinvestment of Rashtriya Ispat Nigam Limited (RINL). An official statement, however, said, the Government remains committed to the Disinvestment Programme and will evaluate the decision in due course keeping in view all the relevant factors. Our correspondent reports that addressing Economic Editors’ Conference in New Delhi yesterday in the Finance Minister Mr. P. Chidambaram said that RINL will be the first company to begin with the disinvestment plan of the government. He had also said that the entire disinvestment plan will be completed within six months.

Rashtriya Ispat Nigam Limited (RINL) had earlier proposed to make an initial public offer of 488,984,620 Equity Shares of 10 rupees each. The Company had filed its Red Herring Prospectus with the Registrar of Companies on September 27, 2012 in relation to the Offer. As per the Offer Programme, mentioned in the Red Herring Prospectus, the Offer was proposed to open on 15th of this month and close on 18th. This has been put on hold.