The government is
mulling sale of its 10 per cent stake in Nalco
as part of its divestment plans. A draft proposal in this regard has been sent to various ministries, including the Ministry of Mines, and replies are awaited.
"The disinvestment of 10 per cent government of India shareholding in Nalco is under active consideration of the government," Minister of State for Finance S S Palanimanickam said in a written reply in the Rajya Sabha.
The government missed its 2011-12 disinvestment target of Rs 40,000 crore by a wide margin, managing to raise only Rs 14,000 crore in the 2011-12 through stake sales.
It is looking to mop up Rs 30,000 crore in 2012-13 from stake sales in public sector units.
Replying to a query on how the
government plans to utilise the proceeds from the stake sale, Palanimanickam said the money is channelised into the National Investment Fund (NIF) for social sector projects as well as PSUs expansion plans.
"The fund is used for investment in social-sector projects and capital investment in selected profitable/ revivable public sector enterprises in order to enlarge their capital base to finance expansion/diversification," he said.
The government had last decided to sell 10 per cent of its stake in profit-making Nalco in 2006.
With PTI inputs 
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