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Cabinet panel to soon take up proposal to pare majority govt stake in PSUs

As the Narendra Modi government races against time to meet its highest ever divestment target of Rs 1.05 trillion, the Cabinet Committee on Economic Affairs (CCEA) is likely to take up for consideration two major proposals very soon.

One will be ‘strategic sales’ of five state-owned companies and the other will be the proposal for the Centre to reduce stake in some companies to below 51 per cent and still maintain a majority stake. The five companies are Bharat Petroleum Corporation (BPCL), Container Corporation of India (Concor), Shipping Corp of India (SCI), THDC …

Source: Business Standard