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May 19, 2000

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No going back on divestment drive, says Sinha

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Indian Finance Minister Yashwant Sinha said on Friday that the government had no plans to relent in its drive to sell government stakes in state-controlled companies.

"There is no hesitation, no second thoughts, no going back on the divestment programme," Sinha told reporters on the margins of a tax conference.

Some analysts have expressed doubts over the success of the government's divestment programme which aims to raise Rs 100 billion ($ 2.27 billion) in the current 2000-01 (April-March) fiscal year.

The success of the programme has come under a cloud following criticism by opposition parties, organised labour and also on account of unfavourable market conditions.

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