Disinvestment Secretary, Sunil Mitra in an interaction with CNBC TV 18 said that the government hopes that BSNL will be able to float an IPO within next fiscal.

 “I hope BSNL IPO happens in the coming year (2010-11). I can’t say exactly when, but I certainly hope that it does happen because BSNL does need to open up to public ownership primarily with a view to strengthen its own management and its accountability, ” he said.

 “The company’s financials are doing pretty badly and it certainly shouldn’t be so, because, telecom as you know, it is one of the sector that you have to be competitive and they (BSNL) have to pull up,” added Mitra.