Volatile markets may slow down PSU stake sale: FM Jaitley

Volatile stock markets may compel government to go slow in diluting PSU stocks in the stock market, said Finance Minister Arun Jaitley

Zee Media Bureau

New Delhi: Volatility in stock markets and low metal prices are likely to slow down offloading of PSU shares in the stock market, said Finance Minister Arun Jaitley.

According to a report in The Times of India, the Finance Minister also added that low global oil prices have given sufficient space to the government to cough up money for infrastructure spending that otherwise would have got channeled from the stake sale of PSUs.

The government is considering the sale of stakes, including transfer of control in non-strategic and loss -making public sector enterprises and hotels.

PSUs like Nalco, Coal India, Balco, Hindustan Zinc are some of the state-run undertakings that are likely to see a strategic or resiudual sale. The government is chasing a target of Rs 69,500 crore through the stake sale route in 2015-16.