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

Post-demonetisation slow down in GDP

 The growth in GDP during 2016-17 is estimated at 7.1 per cent as compared to the growth rate of 7.9 per cent in 2015-16, authorities said. The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation on Tuesday released the Second Advance estimates of national inco

Ramjas violence: NHRC notice to Delhi Police chief

The National Human Rights Commission has issued a notice to the Delhi Police Commissioner on a complaint that police personnel attacked a female student and snatched cameras from media persons, who were recording the incident outside Ramjas College in Delhi University Campus on February 22.

Food subsidy has gone up, but number of poor has dropped

The government`s expenditure on subsidies sustaining the public distribution system (PDS), meant to provide subsidised foodgrain, have risen over the years while the ratio of people below the poverty line has gone down, says and analysis of PDS grants for 2017-18 by PRS Legislative Research.

Contract for 31 oil fields awarded in Tamil Nadu

The Cabinet Committee on Economic Affairs (CCEA) has approved the award of 31 contract areas as part of the Discovered Small Field (DSF) Bid Round 2016. These fields were offered under new policy for small fields known as Discovered Small Field (DSF) policy, 2015, which offers improved fiscal terms with th

Leave me alone, pleads Gurmehar Kaur who is moving out of Delhi

Delhi University student Gurmehar Kaur, who spoke up against the ABVP on Twitter, has announced that she is withdrawing from `Save DU campaign` on Tuesday morning. The campaign was being held to protest against violence against students in the varsity campus. Her friend Ram Subramanian twee

If art or culture disappears, it wipes out an entire generation with it: Pankaj Tripathi

Known for his indelible roles in Gangs of Wasseypur and Nil Battey Sannata, Pankaj Tripathi  hails from a village in Bihar where many people still don’t have TV sets at home. His parents are farmers in Gopalganj district and the down-to-earth actor likes working in his farm whenever he visit

Video

पूर्वांचल पर है सबकी नजर
Digital Transformation Summit

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter