HindustanTimes Sat,01 Nov 2014

India govt stake sales in state companies in 2-3 months: Official

Reuters  New Delhi, August 30, 2014
First Published: 18:09 IST(30/8/2014) | Last Updated: 18:14 IST(30/8/2014)

India will sell part of the government's stake in some state-run companies in the next two to three months, finance secretary Arvind Mayaram said on Saturday, without naming any company.

The government has set a target of $10.5 billion from asset sales during the current fiscal year to March 2015 to help plug its deficit.

The finance ministry this week short-listed banks to manage share sales in top energy explorer Oil and Natural Gas Corp and hydroelectric power generator NHPC Ltd, according to sources with direct knowledge.

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