This financial year promises to be a bumper year for the government when it comes to disinvestment revenue. As many as 30 cash-rich PSUs including ONGC, NTPC, Power Grid, ONGC Videsh and BHEL will start buying back a portion of their own sha
The Comptroller and Auditor General (CAG) of India has heavily criticised the central public sector undertaking (PSU) HLL Lifecare Limited, which makes and markets a range of health care products. In its latest report to the health ministry, it sa
State-run MTNL spends 70 percent of its revenue on salaries and pension of its staff, communications minister Manoj Sinha told Rajya Sabha on Friday. The minister said that this has affected the financial condition of once profit-making telecom co
The government has turned to state-run companies to contribute to an account created to finance the prime minister`s Swachh Bharat programme. The department of public enterprises (DPE) has sent out an advisory, asking central public sector underta
As many as 40 central public sector enterprises (CPSEs) are running without a regular chief executive, parliament was informed today. These include MTNL, Shipping Corporation of India, NMDC and Rashtriya Chemicals and Fertilizers, minister of stat
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 Econo
The appointments committee of cabinet has given the additional charge of the post of chairman and managing director of MTNL to PK Purwar, for a period of three months starting from June 8. Purwar is currently working as director (fi
The government will soon take up proposals for strategic disinvestment of central public sector undertakings, from the list submitted by the government think tank NITI Aayog. A core group of secretaries on disinvestment, head
From September 1, Indian Railway Catering and Tourism Corporation (IRCTC) would offer optional travel insurance to railway passengers, for a premium of just Re 1 while booking an e-ticket. It would be initially introduced on a trial basis, accordi
The merger of state-owned oil firms could create synergy and boost efficiency, and the idea is worth deliberating, said petroleum and natural gas minister Dharmendra Pradhan. The idea was proposed by the country’s largest oil
The department of telecommunications (DoT) has formed a search-cum-selection committee to find a full-time chairman and managing director (CMD) of state-run telecom company MTNL, for a period of five years, according to a news report publish
The government has decided to end existing guidelines for establishing joint venture (JV) companies by defence public sector undertakings (PSUs). The cabinet’s decision will provide a level-playing field in forging partnerships for def
Oil and Natural Gas Corporation (ONGC), India`s largest oil and gas exploration and production company, should merge with a refining corporation such as Indian Oil, Bharat Petroleum or Hindustan Petroleum to weather price volatility, stabilise its
NITI Aayog may recommend the closing down of one sick central public sector enterprise (CPSE). Four enterprises could be up for strategic disinvestment in the first phase of the government plan of shutting down and restructuring of loss-maki
Cachar Paper Mill (CPM), a unit of Hindustan Paper Corporation, is facing financial crisis on account of non-availability of coal, the government has said. Coal is not available due to a blanket ban imposed by National Green Tribunal (NGT) o
The government is moving ahead with the plan for strategic disinvestment of the selected public sector undertakings (PSUs). And there could be at least two-three such stake sales in the current fiscal. According to a news report in
Government’s think-tank Niti Aayog may consider state-owned Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) for strategic disinvestment, according to a news report published in The Indian Express. &nb
Utpal Bora on Monday took charge as the chairman and managing director of Oil India Limited, the country`s second-biggest state-owned oil and gas explorer. Bora, who was executive director at Oil and Natural Gas Corporation (
The Indian Railways want its catering and tourism enterprises IRCTC to convert the old coaches of Palace on Wheels into theme-based restaurants. These restaurants will be placed strategically at railway properties of historic significance,
Government-owned Oil and Natural Gas Corporation Limited (ONGC) and Oil India Limited (OIL) will face an additional royalty burden of more than $1 billion. The Narendra Modi government has decided that they would