(a) whether the Government propose disinvestment its stake in the VSNL and the Computer Maintenance Corporation;
(b) if so, the details thereof and the reasons therefore;
(c) the time by which it is likely to be done; and
(d) the income likely to accrue to the Government on this account?
MINISTER OF STATE (INDEPENDENT CHARGE) OF THE DEPARTMENT OF DISINVESTMENT, MINISTER OF STATE IN THE MINISTRIES OF PLANNING, STATISTICS & PROGRAMME IMPLEMENTATION AND MINISTER OF STATE IN THE DEPARTMENT OF ADMINISTRATIVE REFORMS AND PUBLIC GRIEVANCES (SHRI ARUN SHOURIE)
(a) Yes, Sir.
(b) As per stated policy of Government, in non-strategic sectors the Government equity is to be brought down to 26% or below. VSNL and CMC being non-strategic, it has been decided to bring down Government equity holding to 26%.
(c) Time frame for completion of the transaction would depend on the number of bidders, the time taken by them for due diligence, completion of documentation etc.
(d) No assessment can be made at this stage regarding the income likely to accrue to the Government.