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Ten percent divestment in BSNL confirmed

Business

The Minister of State for Communications & Information Technology, Shri Gurudas Kamat in a written statement issued in Rajya Sabha has confirmed that the Department of Disinvestment has written to Department of Telecommunications seeking to know the listing plan for BSNL and keen to see at least 10 per cent disinvestment of Government stake in the company in the coming fiscal year. BSNL Board has also agreed to the proposal of 10 per cent disinvestment.
The reply further stated that the Government constituted an expert Committee under the Chairmanship of Shri Sam Pitroda in January 2010 to review the performance of BSNL and suggest measures for improving overall performance of the company. The Committee has submitted its report to the Government which includes recommendation for disinvestments of 30% of equity shareholding of BSNL in stages at the appropriate time, say after fundamental changes have been made to enhance enterprise value. The recommendations of Pitroda Committee were deliberated in the 126th Meeting of BSNL Board on 10.03.2010 and BSNL Board reiterated the disinvestment of 10 per cent stake.

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