NEW DELHI: After bank accounts, demat could be up next for a record opening spree. That could become an integral part of the Centre’s disinvestment programme as it looks to democratise asset sales and ensure greater retail investor participation in the exercise aimed at raising an all-time-high Rs 69,500 crore in the year starting April 1.If it goes ahead with such an initiative, the government would be looking to replicate the resounding success of the Pradhan Mantri Jan Dhan Yojana , which saw the opening of 12.5 crore accounts in eight months as the Narendra Modi government sought to step up financial inclusion. "One of the suggestions we have made is that there should be a drive for demat accounts," Disinvestment Secretary Aradhana Johri told ET, adding these now number about 2 crore, of which only half are operational.The suggestions have been sent to the finance ministry’s economic affairs department, Disinvestment Secretary Aradhana Johri said. The disinvestment department is also in talks with the Sebi in this regard. It has also suggested a trading halt in the stocks of listed state-run companies ahead of disinvestment in them to prevent speculation.Johri said the Jan Dhan Yojana was supported by a robust information technology platform and this could be deployed to wider effect. "If you marry both, you have more demats," she said, adding that distinct target segments could be accessed through this mode. Anyone trading in stocks needs a demat account, which is one in which the securities can be held in electronic, or dematerialised, format.While the government is keen on encouraging wider public participation in asset sales by giving retail investors discounts in such offers, the allocation in this segment doesn’t always get subscribed. Widening the pool may resolve this mismatch. "The retail investor is definitely on the radar screen of the government and market making is also going to be an important activity," said Johri. To increase the depth of the market, there will have to be greater awareness and supply push. "We need to get people into the habit of investing," said Johri, who helmed the successful Coal India offer in January.Johri said the government is in talks with Sebi to consider suspending secondary market trading on the day of the offer for sale (OFS), one of the most-used avenues through which stocks-sale plans can be quickly put into effect. "The reasoning is that OFS is a huge transaction and the secondary market swings with a very small amount. Maybe a lot of small investors who are not market-savvy will get confused by that. So far Sebi has not agreed, but we are in talks," she said. The government has also asked Sebi to look at putting circuit breakers in place and check for market manipulation in case transactions above a certain volume take place."We have to protect the value of the stock and prevent hammering, which is not typically done by retail investors but by professionals," said Johri. During the Coal India mega issue earlier this year, the government had asked Sebi to step up surveillance, she said."That is why we were able to protect the stock value to some extent," Johri said.The government raised about Rs 22,500 crore from the sale of a 10% stake in Coal India. The government has also suggested to Sebi that the OFS notice period be slashed from two days prior to the sale to one."It is actually three days because of our processes and committees. The stock meanwhile gets hammered," Johri said.