The government could raise Rs. 22,574-crore ($3.6-bn) from the sale of stakes in four state-run firms including Oil and Natural Gas Corp (ONGC) and National Aluminium Co. Ltd. (Nalco), Junior Finance Minister Mr. Jayant Sinha said. The Cabinet has already approved the sale of 5% stakes in ONGC and Bharat Heavy Electricals Ltd. and 10% each in Nalco and NMDC, Mr. Sinha said in a written reply in the lower house of parliament. The expected receipts were based on share prices of these companies on March 16, taking into account a possible discount for retail investors. He did not disclose when the government planned to sell shares in these companies.
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