NEW DELHI: The new government may kickstart its big-ticket disinvestment plan by diluting stakes in power sector firms such as NTPC, NHPC and Power Grid Corporation to 51% over the next few years.
The exercise is expected to fetch around Rs 60,000 crore, while an equal amount will be mobilised by these public sector units (PSUs) to carry out their expansion plans. The amount raised will help the companies meet part of their funding needs. The sector requires over Rs 10,00,000 crore in the next three years. “A proposal in this regard has already been moved by a committee headed by Planning Commission deputy chairman Montek Singh Ahluwalia and officials with power and finance ministries. The committee’s recommendations are expected to drive the policy for power sector during the current Plan,” said a power ministry official. “Disinvestment in power sector PSUs would be undertaken through a combination of follow-on public offers by listed power utilities and initial public offers by others,” said the official, who asked not to be named.
(Source : ET)
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