The Government has expressed hope that it will be able to complete 5 per cent stake sale in oil major ONGC in the current fiscal itself. Oil Minister Jaipal Reddy told this to reporters in New Delhi today after a meeting of empowered group of ministers (EGoM) on disinvestment. He said, the panel of ministers would be meeting again within the next 10 days to finalise stake sale in the backdrop of the new guidelines by market regulator SEBI. As per the new norms, promoters will be allowed to sell only up to 10 per cent of their stake to maintain minimum public shareholding of 25 per cent in private sector companies and 10 per cent in case of PSUs. The notification is expected to help the government to expedite disinvestment process by introducing the new private placement mechanism. Our correspondent reports, although the government had planned to raise 40,000 crore rupees from disinvestment in the current fiscal, it has not been able to make much headway because of uncertain market conditions. So far, it has raised only 1,144 crore rupees from stake sale in Power Finance Corporation. Volatile stock market conditions is forcing the government to delay stake sale in PSUs. World equity markets have been on a downside on fears of debt crisis in Eurozone economies and global slowdown.