Indian Govt to Sell Stakes of State Companies

Posted by Joseph R. Fonseca
Sunday, August 31, 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.

(Reporting by Rajesh Kumar Singh; Writing by Devidutta Tripathy; Editing by Mark Heinrich)

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