New Delhi: The government on Monday said it is
considering part sale of its shareholding in the telecom PSU
BSNL, a move that would help the company in getting Navratna
status besides access to capital market for raising fresh
funds.
To a written query in the Lok Sabha seeking details of
the proposal for divesting stake in BSNL, Telecom Minister A
Raja said that the government is considering disinvestment in
BSNL and listing it on the bourses.
The Minister further informed that BSNL board on its
meeting held on July 25, after considering all the pros and
cons of listing and to strengthen the company's claim for
Navratna status, decided that it should get listed.
The status of Navratna is conferred by the Department of
Public Enterprises. The status will further give BSNL more
autonomy.
Divulging the cash position of BSNL, he said at present,
BSNL is able to meet all its fund requirements from internal
resources. The telecom PSU has Rs 35,337 crore as on March
31,2009. The amount required for development and expansion
plan for 2009-10 is Rs 14,015 crore.
Bureau Report
First Published: Monday, July 27, 2009, 20:37