The Hindu : Another round of `big ticket' privatisation

Online edition of India's National Newspaper
Thursday, Feb 14, 2002

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Another round of `big ticket' privatisation
By Sushma Ramachandran

NEW DELHI, FEB. 13. Another round of ``big-ticket'' privatisation is on the way within the current fiscal, with the Government preparing for sell-off of equity in Maruti Udyog Limited, Indian Petrochemicals Limited, Jessops Engineering and Hindustan Zinc limited by March 31.

A decision on sale of Government shareholding in the loss-making Paradeep Phosphates Limited (PPL) is also expected to be taken at tomorrow's meeting of the Cabinet Committee on Disinvestment (CCD), ensuring that privatisation of 10 out of the 13 companies identified as high priority will be completed as scheduled.

Only three companies will be dealt with later, owing to land clearance issues which have yet to be resolved. These include Nepa, Instrumentation Limited and Bharat Heavy Plates and Vessels (BHPV).

With the disinvestment programme rapidly picking up pace, the Disinvestment Minister, Arun Shourie, told The Hindu that the next phase of privatisation in 2002-3 will be based on the recommendations of the Disinvestment Commission.

It has already begun submitting reports and these will form the basis for the disinvestment agenda in the next fiscal.

The companies identified so far are Neyveli Lignite Corporation, Manganese Ore India Limited, Rail India Technical and Economic Services and Project and Equipment Corporation (PEC).

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