Economic Survey favours raising Rs.25,000 crore from divestment

July 2nd, 2009 - 3:41 pm ICT by IANS  

New Delhi, July 2 (IANS) The Economic Survey the government presented in parliament Thursday called for revitalising the divestment policy so as to generate at least Rs.25,000 crore (Rs.250 billion/$5.22 billion) annually.
“List all unlisted public sector enterprises and sell a minimum of 10 percent of equity to the public,” the survey stated.

It also called for completing the process of offloading 5-10 percent equity in previously profit making non-Navratna companies.

Navratnas are profit-making public sector undertakings (PSUs) such as Steel Authority of India Ltd and the Oil and Natural Gas Corp and enjoy decision-making autonomy.

According to the survey, the targeted revenue generation from divestment should be Rs.25,000 crore annually.

“Auction all loss making PSUs that cannot be revived,” it added.

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