NSE chief sees change in strategy on disinvestment drive
The markets were flat as a lot of announcements were factored in
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They (govt) want to ensure that they realise the best price going forward from those PSUs in a reasonable time horizon rather than a distress sale. So, in general the strategy seems to have changed - Ashish Chauhan, CEO&MD, NSE
No More Distress Sale
• Previous govts used to do adjustments
• Wherein lack of visibility on resources made them budget for disinvestment targets
• The present one is more realistic in its assumptions
• The govt was telling about achievements of the last decade
Mumbai: The lower divestment target at Rs50,000 crore suggests a ‘change in strategy’ for the government, wherein it wants to sell a company at the right price and not undertake a distress sale, largest equity bourse NSE Chief Executive Ashish Chauhan said on Thursday. He said simultaneously, the government is working to strengthen public sector undertakings as we have seen in the recent past.
“They (government) want to ensure that they realise the best price going forward from those PSUs in a reasonable time horizon rather than a distress sale. So, in general the strategy seems to have changed,” said Chauhan, the managing director of the exchange. He was answering a question on the low disinvestment target, especially for a politically strong regime. Chauhan said previous governments used to do adjustments wherein lack of visibility on resources made them budget for disinvestment targets, while the present one is more realistic in its assumptions.
