The Union Cabinet has decided to divest 10% of the government’s stake in Nalco and Neyveli Lignite Corporation (NLC), despite the Left opposing the decision (as always). The revenues collected from the sales of stakes through the book building process would amount to Rs.26.28 billion. This divestment follows the central government’s decision to sell off 5% of their stake in Power Finance Corporation (PFC) and their 15% stake in National Mineral Development Corporation (NMDC) during early 2006. With those sales the government was expected to collect Rs.35 billion, and the merchant bankers, who will look into the issues, have already been appointed. We surely give government the credit for bold move that others could not make.
For complete IIPM article click here
Source:- IIPM Editorial, 2006
For complete IIPM article click here
Source:- IIPM Editorial, 2006
Editor:- Prof. Arindam Chaudhuri
