To Shine a New Light, UPA Digs Itself Deep

Thwarted by its allies in its previous term, the UPA’s disinvestment agenda is slowly gaining traction again.

Thwarted by its allies in its previous term, the UPA’s disinvestment agenda is slowly gaining traction again.

The first public sector unit (PSU) on the block is likely to be Coal India. Minister of State for Coal (independent charge) Shriprakash Jaiswal has sent the files moving already, and he has said that the process of divestment will start in the next six months. It is still a ‘process’, however, and can take up to a year to complete. The minister has clarified that the Centre is looking to sell between 5 and 10 per cent of its equity in the coal PSU. The success of this selloff will be critical in realising the Government’s ambitious plan of raising as much asRs 20,000 crore from disinvestment in central PSUs. Now, whoever said digging oneself in deep is a lousy path to success?

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