With the disinvestment programme of the government virtually coming to a halt, coal PSUs may pick up stakes in other public sector units to help the government meet its target of Rs 40,000 crore, a top ministry official indicated today.
"It all depends. If it is financially viable, then why not?" Coal Secretary Alok Perti told reporters when asked if companies under the ministry were open to buying stakes in other PSUs.
The secretary, however, categorically denied receiving any communication so far in this regard from his counterpart in the Finance Ministry.
At the same time, he added that the Finance Ministry had recently sought to know the cash surpluses with Coal India and Neyveli Lignite.
While Perti sought to downplay the motive of the enquiry of the Finance Ministry, claiming ignorance, sources said the move might be aimed at meeting the government's Rs 40,000 crore PSU disinvestment target for the fiscal.
The government's disinvestment target for this fiscal has gone haywire on account of the precarious market conditions. Against the target, it has only been able to generate about Rs 1,150 crore so far this fiscal.
It was also reported that the government might look at the "buy-back" option for meeting its disinvestment target for the current fiscal.
"I have not heard anything on buy-back of shares," Perti said, indicating that the government might not consider that option, as of now.
