Disinvestment blues

It is that familiar sinking feeling all over again. With hardly five months left for the fiscal to end, the Centre is nowhere near achieving its target of Rs 40,000 crore from disinvestment for 2011-12. The exercise so far has yielded just about Rs 1,100 crore and, worryingly, there seems to be no clear strategy on making the best of the remaining period. Disinvestment during this fiscal has been characterised by false starts – ONGC being a good example, where the Centre came close to making a follow-on public offer (FPO) on at least three occasions before retreating. 

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