The government's disinvestment strategy has largely relied on minority stake sales in public sector undertakings (PSUs), even as strategic privatisation remains a stated policy objective. That is a gap of nearly five times in favour of minority stake sales. Minority stake sales allow the government to continue receiving dividends from profitable PSUs. If the objective is to raise money while retaining control, minority disinvestment works. It simply makes selling a minority stake a more convenient way to monetise an existing holding.