Govt to take up BHEL, MUL selloff in few weeks

A note on the sale of 10 per cent shares of BHEL came up for the January 27 meeting but CCEA did not take any decision.

Government will take up sale of part of its holding in Bharat Heavy Electricals Ltd and Maruti Udyog within a few weeks.

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"What's the hurry. It will be taken up in the next few weeks," Finance Minister P Chidambaram said after the meeting of the Cabinet Committee on Economic Affairs (CCEA).

A note on the sale of 10 per cent shares of BHEL came up for Thursday's meeting but CCEA did not take any decision.

"The note on BHEL could not be taken up today," he said, adding the other note was on the proposal for setting up a National Investment Fund.

Earlier this week, the Government had decided to sell 10 per cent equity in Bharat Heavy Electricals Ltd and 7.5 per cent shares in Maruti Udyog Ltd next fiscal to raise close to Rs 2,500 crore.

The money will go to National Investment Fund which will be managed by public sector fund managers. Returns from the fund will be used for capital investment in select profitable public sector companies and social sector projects.

"The CCEA today also discussed possible candidates for disinvestment. BHEL is one of them," Chidambaram said.