The government will kick-start its stuttering disinvestment programme in the first week of October but it is likely to scale back the target for the current fiscal.

The finance ministry, in consultation with its disinvestment department, is likely to scale back of the disinvestment target by 10,000 crore to 30,000 crore, according to a news report published in Economic Times.

The government also plans to launch public issues of Power Grid Corporation and Coal India Limited by December or January.

Road shows for 10% stake sale in IOC will start in the first week of October and the offer-for-sale could be wrapped by next month. The government expects to raise around 5,000 crore from the issue.

The government had put on hold its disinvestment programme because of the falling rupee value. The rupee has recovered in the past few weeks after measures taken by the government and the Reserve Bank of India.

According to the government's disinvestment roadmap, it will try to push 4% stake sale in Power Grid Corporation and 10% in Engineers India Limited through a follow-on offer before December 15. The government hopes to raise around Rs 3,000 crore from these two issues.

It is also trying to push Coal India, NHPC Limited and NMDC Limited to go for buy-backs, hoping that they will help it raise around 12,000 crore.

The government, which so far collected 1,323 crore through disinvestment in six state-run firms, is expected to revise the target after it holds review by the end of this year. The government official said that if 10% stake sale in Coal India had gone off smoothly, they could have met the target.