Govt to disinvest 5-10 PSUs in FY10
There is no proposal to disband the National Investment Fund (NIF) as of now, reports CNBC-TV18, quoting sources. The government has the option of using part of the NIF corpus to fund social schemes. However, the government may route the NIF corpus through mutual funds.
As of now, the government parks divestment funds in the National Investment Fund.
The government, sources said, is likely to disinvest 5–10 companies this fiscal. Disinvestment is believed to start only with listed companies with less than 10% market float. It may take the market float in these companies to up to 10%.
Earlier, presenting the Union Budget, the Finance Minister had said that disinvestment will start with stake sales in listed public sector undertakings (PSU).
source: Moneycontrol
Tags: Disinvestment of stocks, government stock holdings, Govt of india
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