The government is unlikely to divest its stake in
any of the profitable public sector units in the near
future, finance minister P Chidambaram said.
months ago, the prime minister put disinvestment on hold
pending more consultations. I do not expect any money
to flow into the National Investment Fund (NIF) in the
immediate future," he told the Rajya Sabha during
government had, in November lat year, constituted the
NIF for channeling proceeds from disinvestment of equity
in central public sector units. "Till date, no funds
have accrued to NIF," he said.
Of the proceeds accrued to NIF, 75 per cent were to be
used on education, health and employment schemes while
the remaining 25 per cent were to be used for reviving
there was no consensus (on divesting profit making PSUs),
the prime minister had put the process on hold,"
he said, adding the government would wait for building
consensus on divesting small portions of equity in profit