Friday, September 2 2005 16:38 Hrs (IST) - World Time -

New Delhi: The CPI-M today (Sept 2, 2005) said it was open to the sale of residual stake in already privatised government companies.

"What will government do with the residual stake when these companies have already been privatised," CPI-M Polit Bureau member Sitaram Yechuri told reporters here. "They have no control over these companies but their money is stuck there. Sale of residual stake in already privatised PSUs is an insignificant matter," he said.

The Cabinet today cleared sale of 8 per cent out of its 18.24 per cent residual stake in Maruti Udyog, now controlled by Japanese auto giant Suzuki. The CPI-M, which is supporting the Manmohan Singh government from outside, however, made it clear that it was not giving away any ground on disinvestment in bluechip Navaratna public sector firms.

"Let them first say that they will not disinvest Navaratna companies, then we will see about this (residual stake sale). We will discuss the issue of sale of residual stake with the government," he said.