Fuelled by the success of Maruti Udyog Ltd's IPO issue, government is likely to consider the timing for selling part of its stake in state-owned gas utility Gas Authority of India Ltd.

"The government has communicated to us about this issue (part sale of its stake) two weeks ago and it is only a question of time", GAIL chairman and managing director Proshanto Banerjee told reporters in Mumbai on Wednesday.

He, however, did not elaborate on the timeframe for the government to shed its stake.   

"We had suggested to the government, which holds 67 per cent stake in the gas company, to sell 4-5 per cent stake to retail investors for improving liquidity of the scrip," Banerjee said adding the enthusiastic response to Maruti's public offering would be a positive feedback.

Asked about the requirement for funds to lay 5,000-6,000 km long gas pipeline, he said the total outlay was pegged at Rs 18,000-19,000 crore (Rs 180-190 billion) but there were no immediate plans to raise funds from the market.