The Finance Ministry is not in favour of selling the residual government equity in Maruti Udyog in the prevailing market conditions.According to sources, the Finance Ministry has conveyed to the Department of Heavy Industries that this was "not an opportune time" to offload the remaining 10.27% stake that the government has in Maruti.This comes days after Heavy Industries minister Santosh Mohan Dev said that the government has initiated the process of selling all its holding in Maruti to raise more than Rs 2,500 crore."We have offered to the Finance Ministry to sell 10.27% stake that the government has in Maruti. Now it is up to them to take the call," Dev had said Monday.The sources said the Finance Ministry wanted the stock markets to stabilise before taking any final call on the matter. "They want the maximum out of it and, therefore, want to wait," the sources said.The government stake in the company is held by Ministry of Heavy Industries.Based on the current market price of company's scrip on the stock exchanges, the government is likely to raise around Rs 2500 crore if it decides to sell now.As all disinvestment in public sector companies is off for now, sale of shares in erstwhile PSU Maruti could offer the much-needed resources to the government.Last year the government had sold 8% shares in Maruti for more than Rs 1,567 crore to public sector financial institutions. At that time itself government had announced that it would completely exit the company in 2006.
