Four more sick PSUs are going to be sold shortly. The Government is finalising its programme for sale of Hindustan Cables Limited, Hindustan Machine Tools Limited, Thungabhadra Steel Limited and Richardson & Cruddas. Hindustan Cables Limited is closely connected with telecom and has been supplying Cables for the DoT earlier and to BSNL and MTNL later.
Already the Government has sold Power Finance Corporation Limited for a meagre amount of Rs. Rs. 1,162 crore. Scooters India Limited is also under sale.
The UPA II government is on an agressive selling mode. Before the completion of its five year term it wants to hand over maximum number of PSUs to the private sector as part of the LPG policy.