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August     Last updated: August 12  5:00 p.m.

From Our Correspondent

“IN a move that would set the ball rolling for disinvestment of 16 PSU's in the current fiscal year, the Government has announced the appointment of global advisors for streamlining the sale procedure to meet a target of Rs 10,000 crore for year 2000-01”, said Shri Arun Jaitley in one of his last announcement as Minister for Disinvestment.

 He was addressing a Consultants Meet held in FICCI Auditorium by Bharatiya Vitta Salahkar Samiti, Delhi State Unit. Shri Jaitley further observed that the nation had no alternative except to off-load its non-productive assets (NPAs) to convert them in national wealth and ready resources which may be available for duly pursuing various developmental schemes in view.

 Department of Company Law Affairs (DCA) is being asked to move necessary amendments to the Companies Act, 1956 to permit “golden share”, which may be used as a mode of comfort to appease workers in privatized units. Shri Jaitley informed the gathering that the Government is also actively considering resurrecting the concept of National Shareholding Trust (NST) as an improvement on Special Purpose Vehicle (SPV) route.

 Earlier, Shri Vijay Jhindal, All India General Secretary of the Bharatiya Vitta Salahakar Samiti welcomed the distinguished guests who included Shri Madan Das, Joint General Secretary, RSS, Shri K.S. Mehta, President, PHD Chamber of Commerce and Shri S.S. Sodhi, Executive Director, Delhi Stock Exchange.