The government on Tuesday said that there is no question of reducing government equity in public sector enterprises from the 51 percent under any circumstances. The Finance Minister Mr. Pranab Mukherjee also said that there will be no strategic sales. He was responding to a Calling attention notice on the situation arising out of the government decision to disinvest shares in the public sector enterprises and the steps taken in this regard. Mr.Mukherjee said that the government took the conscious decision on listing profit making public sector enterprises in the stock markets because it enhances their market value. He informed the House that disinvestment of five percent of the government share holding in NTPC 10 percent Satlun Jal Vidhyut Nigam and five percent in rural electrification corporation is under implementation and this is likely to be completed by the end of the March next year. He rejected the allegation that four lakh crore rupees worth of consensus were given to the private sector in the wake of the impact of global meltdown. The minister said that one lakh 86 thousand crore rupees in three stimulus packages.<br/><br/>An amount of over 500 billion US dollars is required in the current plan for upgrading physical infrastructure in the country. This is essential to achieve 9 percent growth in this plan. This was stated by the Finance Minister Mr. Pranab Mukherji in written reply to the Rajya Sabha on Tuesday. He said that no targets have been set up for the next fiscal but the highest investment of over 166 billion dollars is required in Power sector.<br/>
News On AIR | December 8, 2009 2:44 PM
No question of reducing Govt equity in PSU: Pranab Mukherjee