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Lok Sabha
The Government has decided in principle to list currently unlisted, profitable Central Public Sector Enterprises (CPSEs), each with a net worth in excess of Rs.200 crores and to sell minority shareholding of the Government in listed, profitable CPSEs either in conjunction with fresh equity to be issued by the CPSE concerned or independently by the Government subject to the residual equity of the Government remaining atleast 51% and the Government retaining management control of the CPSE.
Specific cases of disinvestment will be approved on a case-by-case basis. At present the Government has decided to sell 10% out of its shareholding of 67.72% in Bharat Heavy Electricals Ltd. (BHEL) through an Offer for Sale. The amount realizable from disinvestment would depend upon the market conditions, prevailing at the time of the actual Offer for Sale. In accordance with the established procedure, the administrative ministries of the concerned CPSEs are consulted at the time of disinvestment. A final decision in each case will be taken by the Cabinet Committee of Economic Affairs.
Shri Palanimanickam, Minister of State for Finance gave this information in reply to a question raised by Shri Tathagata Satpathy and Smt. D. Purandeswari.
BSC/BY/GN-273/05
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