The Government will soon come out with a policy on strategic sale of state-owned companies and the disinvestment will not be confined to loss making enterprises.
“May be later in the year, the government will come out with a policy prescription for strategic sale. We will be doing strategic sale,” Disinvestment Secretary Neeraj Kumar Gupta told reporters here on Tuesday.
“Broadly, the strategic sale is that Government is selling the equity of the company along with the controlling management. How much stake will be sold, it will vary from place to place and company to company,” he added.
The previous NDA government led by Atal Bihari Vajpayee had from 1999 to 2004 privatised about a dozen State-owned firms and hotels including Videsh Sanchar Nigam ltd (VSNl), Bharat Aluminium Company ltd (BAlCO), CMC ltd and Hindustan Zinc (HZl). But the policy was buried after the UPA came to power and only minority stake sales was pursued since then.