Mineral, oil, metal and energy sector firms identified for disinvestment

The government has budgeted Rs 56,500 crore of revenue from disinvestment, of which it has raised around Rs 3,183 so far

GN Bureau | August 3, 2016


#Disinvestment   #mineral   #oil   #metal   #energy  

The government has identified state-run enterprises in sectors like mineral and metal, oil, energy, capital goods as well as some mid-size and small stocks for disinvestment, the finance ministry said on Tuesday, according to a report by the Economic Times.

The government has budgeted for Rs 56,500 crore of revenue from disinvestment, including Rs 20,500 crore from strategic sales in this fiscal. But so far, it has raised around Rs 3,183 crore from disinvestment of NHPC and offer for sale (OFS) of IOCL and NTPC, minister of state Arjun Ram Meghwal informed Rajya Sabha, the report added.

He also said that the cabinet committee on economic affairs has approved the structure for “strategic disinvestment” of CPSEs, and that the government has expressed intent to participate in buyback shares proposed by NALCO, MOIL, NMDC and CIL. Last fiscal, the government was able to raise Rs 33, 172 crore as against the target of Rs 69,500 crore.

Earlier this month, the government had invited applications from merchant bankers and selling brokers in a request for proposal or RFP for sale of SUUTI holdings in different companies, which were later bracketed into three groups. The SUUTI holds 11.16 percent stake in ITC, 8.32 percent in L&T and 11.94 percent in Axis Bank at present. These holdings are together worth nearly Rs 62,000 crore.
 

Comments

 

Other News

Flying start for UDAN, but there could be rough weather ahead

PM Narendra Modi’s yet another niftily acronymed scheme, UDAN – short for Ude ‘Desh Ka Aam Naagrik’ and otherwise called ‘Regional Connectivity Scheme’ in officialese – got off to a flying start on Thursday. Modi formally launched a flight from Shimla to Delhi, and

It’s very rare to get the right budget to do what producers want: Thota Tharrani

He accompanied his father to film studios in Chennai and helped him in designing sets, but Thota Tharrani wanted to be an artist. So he studied mural painting and print-making, but as luck would have it, he finally returned to tinsel town. And the world soon took note. In Mani Ratnam’s pa

Is the AAP headed for a split?

Is the AAP headed for a split?

Bangladesh to get high-speed diesel from Numaligarh refinery

A sale-purchase agreement was signed between Numaligarh Refinery Limited (NRL) and Bangladesh Petroleum Corporation (BPC) for supply of high speed diesel (HSD) through the proposed 131 km Indo-Bangla friendship pipeline.    The agree

Ajay Maken fails to charm Delhi

The dismal performance of the Congress in the Municipal Corporations of Delhi elections forced party chief Ajay Maken to announce his resignation, ending an energetic effort to revive the party in the national capital.   Ajay Maken, now 53, had taken over as the chief

AAP in hot water following MCD poll debacle

The BJP’s clean sweep is not just a referendum on the Arvind Kejriwal government, but also could mark the beginning of the end of one of India’s youngest political parties, the Aam Aadmi Party (AAP). After the Bharatiya Janata Party’s massive win in the UP assembly elections, th



Video

फिर शुरू होगी अयोध्या में रामलीला

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter