- Oil and Natural Gas Corporation (ONGC), Steel Authority of India (Sail), Coal India Ltd (CIL), Hindustan Aeronautics Ltd (HAL), Power Finance Corporation (PFC) and National Hydroelectric Power Corporation (NHPC) will go through a disinvestment plan proposed to cabinet, Finance Minister
- 5% stake sale in ONCG is going on and the department of disinvestment has started working on it
- Proposals are being sent to invite and appoint merchant bankers for managing the share sale on its website
- ONCG stakes were sold for Rs.14, 000 by the UPA government and the State-owned LIC had picked up 95 per cent of the total shares on the block for over Rs. 12,000 crore
- An estimate of Rs.43, 000 crore is already listed by Sector Units (PSUs) and 5% of ONCG will fetch Rs. 25, 000 crore and remaining Rs.15, 000 crore is expected from Hindustan Zinc Ltd and Balco
- The cabinet is yet to pass the proposal and the Finance Ministry plans to proposal to be accepted within two months
- The stake sales most likely will be completed through Offers for Sales conducted via e-auctions on the stock exchanges, ministry plans to start disinvestments within three months
- Read at: http://www.thehindu.com/todays-paper/tp-national/jaitley-proposes-major-disinvestment-road-map/article6222812.ece