'Disinvestment will kick off next month'

Last Updated: Sat, Aug 04, 2012 18:40 hrs

The government is now expecting the disinvestment process for 2012-13 to kick off in September.

Speaking to reporters on the sidelines of an industry event, Disinvestment Secretary Mohammad Haleem Khan exuded confidence that the disinvestment target of Rs 30,000 crore set for the current financial year would be achieved. He also said the first disinvestment would take place in September.

Slated to be the first disinvestment, the initial public offering of Rashtriya Ispat Nigam Limited (RINL) has already been deferred twice. Khan declined to comment on the new schedule for RINL IPO.

The Cabinet also cleared in July divestment in SAIL. Besides, half a dozen other companies, including BHEL and OIL, are also on the government’s stake sale list this year.

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