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

Thus ends the Chidamba-Run!

The arrest of Palaniappan Chidambaram, former union minister of home & finance, by the CBI, albeit after his much dramatic disappearance and reappearance, has brought an end to his long run from the arms of law. As a finance minister, being at the other end of the law, the former ministe

What Imran’s rant against RSS tells us about Modi’s Kashmir policy

An unintended consequence of the inversion of Article 370 and the division of the state of Jammu and Kashmir into two union territories is the curious revival of Pakistan’s interest in Indian history and sociology. For the first time in decades, a Pakistan prime minister made the Rasht

On a Personal note with actor Neeraj Kabi

Neeraj Kabi, a critically acclaimed self-taught actor, theatre director, and acting teacher, has worked in Odiya, Hindi and international cinema, theatre, television and web series. In 2014 he was honoured with the best actor award at the 4th Sakhalin International Film Festival for his role in the fil

Talking to Trump, Modi hits out at Imran’s anti-India rhetoric

Prime minister Narendra Modi has told US president Donald Trump that Pakistan prime minister Imran Khan’s “incitement to anti-India violence” was not good for peace in south Asia. Modi and Trump had a telephonic conversation – their first since the Aug 5 move to chang

Paediatricians call for junking unhealthy food

As children are consuming more and more fast foods and sweetened beverages are becoming, leading to obesity and related non-communicable diseases (NCDs), the Indian Academy of Pediatrics (IAP) has come out with guidelines on such substances. The dietary guidelines under its nutrition chapter

Modi’s forward-looking I-Day speech lays down 5-year agenda

Contrast prime minister Narendra Modi’s first Independence Day speech in 2014 with his latest, the first in the second term, and you know the difference. His first speech was less about future and much about the basic needs like Swachch Bharat (clean India). His speech on Thursday, on the other hand,



Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter