Govt to list 35 PSUs; targets Rs 1.5 trillion

The government on Wednesday said that it would list 35 public sector companies on stock markets over the next five years.

The move would generate about Rs 1.5 trillion in revenues for the Centre. "In the next five years, we will list 35 PSUs....the government will get almost Rs 1.5 trillion as revenue from this listing," Minister of state for Heavy Industry and Public sector enterprises Arun Yadav said at a CII function.

He said that the ministry is waiting for the Finance Ministry's approval.

"Once we get the nod from the Finance Ministry, we will start the process," Yadav added. Last week, divestment secretary Sumit Bose had said that Engineers India divestment is likely to take place by the middle of July.

Besides, the government is likely to sell stake in 10 PSUs, including MMTC, Coal India, SAIL, RINL and Shipping Corporation of India, in the current financial year.

The Cabinet's nod for SAIL disinvestment has already been received. Last fiscal, the government raised Rs 25,000 crore (Rs 250 billion) from stake sale in Oil India, NMDC, REC and NTPC.