An inter-ministerial panel is expected to discuss tomorrow the selection of legal advisor for planned Exchange Traded Fund comprising shares of listed public sector companies, as part of efforts to push the government's disinvestment programme.
The ETF of PSU shares will be among the modes that the government is expected to tap to reach its ambitious disinvestment target of Rs 55,814 crore next fiscal. In the current fiscal ending this month, it has mopped up Rs 23,920 crore through offloading stake in PSUs.
According to a government official, the Inter Ministerial Group (IMG) is scheduled to meet on March 25 to discuss the proposed ETF.
The meeting is likely to decide on the legal advisor for the proposed launch of such funds, the official said.
Representatives from the ministries of Finance, Corporate Affairs and Law as well as from the Department of Public Enterprises and the Planning Commission, are part of the IMG.
The proposed ETF comprising shares of listed Central Public Sector Enterprises (CPSEs) would serve as an additional mechanism for the government to monetise its shareholdings in those companies.