Govt defers decision on ONGC, Coal India, NHPC stake sale

The Cabinet Committee on Economic Affairs did not take up the disinvestment proposals as the minister concerned was not present, Law Minister Ravi Shankar Prasad told reporters here after the CCEA meeting.

hidden August 27, 2014 20:32:01 IST
Govt defers decision on ONGC, Coal India, NHPC stake sale

New Delhi: The government today deferred a decision on its stake sale in three PSUs -- ONGC, Coal Indiaand NHPC as Finance Minister Arun Jaitley was not in town.

The Cabinet Committee on Economic Affairs did not take up the disinvestment proposals as the minister concerned was notpresent, Law Minister Ravi Shankar Prasad told reporters here after the CCEA meeting.

As per estimates, disinvestment in the three PSUs could yield the exchequer over Rs 40,000 crore, enough to meet the target for the current fiscal.

Govt defers decision on ONGC Coal India NHPC stake sale

Logo taken from website

The proposals before the CCEA, headed by Prime Minister Narendra Modi, was to sell 5 per cent stake in ONGC, which could fetch about Rs 18,000 crore at current market price.

Besides another 10 per cent stake sale of Coal India which could fetch about Rs 22,000 crore to the exchequer. Also the 11.36 per cent stake sale in NHPC could fetch over Rs 2,600 crore.

In the current fiscal the government plans to mop up Rs 43,425 crore from selling stake in PSUs.

PTI

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