Govt expects no selloff to go through this fisc

The finance ministry is not expecting disinvestment in the public sector companies to go through during the current fiscal. Maruti Udyog Ltd is the only company where the government hopes to sell its 8 per cent stake during the current fiscal.

"The political climate does not seem conducive. There is a positive slowdown on the disinvestment of stakes in the public sector companies," a senior North Block official said.

The government decided to put its decision to sell 10 per cent stake in Bharat Heavy Electricals Ltd on the backburner following Left opposition.

The disinvestment ministry was hoping to sell the government's shares in Shipping Corporation of India and National Aluminum this year. Though the administrative ministries had cleared the sale, the finance ministry had not processed the proposals and had approached the Cabinet Committee on Economic Affairs for approval.

In case of Power Finance Corporation and Power Grid Corporation of India, the power ministry did not favour the idea.

The finance ministry had proposed to sell its shares in all the public sector companies through a public offer.

"Maruti's is the only sale that looks possible this year. Since Maruti is no longer a public sector company, it looks easier," an official said.

Officials also said there was uncertainty about the government coming out with a white paper on disinvestment, as promised earlier. "The white paper has been put in a black file as we are not clear if the move was politically acceptable," a finance ministry official said.