The government wants to shed its remaining 10.27 per cent stake in Maruti soon.
The finance minister is pushing for a sale before the Winter session of parliament.
The decision comes less than two months after Chidambaram had said the government should wait for the stock markets to stabilize.
Heavy Industries Minister Santosh Mohan Deb is also signaling green. He argues that there was no merit in holding just over 10 per cent stake in the company.
In June this year, the government stopped having any representation on the board of Suzuki.
The government can raise Rs 2,200 crore by selling the stake and it needs the money for social schemes.
A decision on whether the stake will be sold to a PSU bank as happened in January last year or through a public offer will be taken soon by a group of officials headed by finance ministry.
In 2002, the government handed over majority stake to Suzuki. A year later it shed 27 per cent of its stake through an IPO and then sold eight per cent in January 2005 to raise Rs 1400 crore.
The deal is likely to go through because the Left has not raised any objections.
But sources say this is just the beginning. The finance ministry is preparing a list of PSU's in which minority stake can be sold after negotiating with the Left.
The finance minister is pushing for a sale before the Winter session of parliament.
The decision comes less than two months after Chidambaram had said the government should wait for the stock markets to stabilize.
Heavy Industries Minister Santosh Mohan Deb is also signaling green. He argues that there was no merit in holding just over 10 per cent stake in the company.
In June this year, the government stopped having any representation on the board of Suzuki.
The government can raise Rs 2,200 crore by selling the stake and it needs the money for social schemes.
A decision on whether the stake will be sold to a PSU bank as happened in January last year or through a public offer will be taken soon by a group of officials headed by finance ministry.
In 2002, the government handed over majority stake to Suzuki. A year later it shed 27 per cent of its stake through an IPO and then sold eight per cent in January 2005 to raise Rs 1400 crore.
The deal is likely to go through because the Left has not raised any objections.
But sources say this is just the beginning. The finance ministry is preparing a list of PSU's in which minority stake can be sold after negotiating with the Left.
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