The Minister for Public Expenditure and Reform has said the Government has not taken any decision to sell off State assets other than a minority stake in the integrated ESB.
Asked about suggestions that the Government might sell off State assets worth up to €5 billion, Brendan Howlin said there was no such agreement.
He said that the Government had indicated to the International Monetary Fund, European Union and European Central Bank troika that it wanted to move away from the previous agreement that all payments be used to pay down debt, because they wanted to develop a growth strategy.
Mr Howlin said he firmly believed that the Government would have a ready ear from the Troika if it could persuade them that the money would be well spent.
He said expects an outcome on this issue following the next Troika meeting.
Meanwhile, the Government is expected to announce details shortly of a new unit which will manage the shareholdings in a number of State companies.
The project will be run as part of the National Treasury Management Agency and manage holdings in ESB, Bord Gáis, Eirgrid, Bord na Móna and Coillte.
The EU and IMF want the Government to raise €5bn by way of sale of State assets. Ministers have so far committed to raising €2bn.
Discussions are under way between the Troika and Ministers about expanding the programme of selling state companies.
The Cabinet wants to reinvest the proceeds in Ireland, however, the EU and IMF want it used to pay off debt.
A compromise is likely to be reached by using the cash to do a bit of both.
In order to do so, it is thought that the Government will have to make very convincing arguments that money spent in Ireland will have a significant economic benefit if it is to remain in the country.
Tánaiste Eamon Gilmore has rejected criticism from Sinn Féin's Mary Lou McDonald who said the Government's plans for semi-State companies amounted to the wholesale privatisation of state assets.
Mr Gilmore said the Government's intentions was to get maximum value from the semi-States to ensure they can have the potential to create additional employment.
He said the Government was engaging in reform and that it was not going to get stuck in an old groove.
Ms McDonald said the Government's actions was akin to lining the pockets of private investors.
It is understood that the Government will also announce a Strategic Investment Fund which will channel money from the National Pension Reserve Fund into productive investment in the Irish economy.
