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BHEL, MMTC, NMDC, MECON: Cabinet approves strategic sale

By Indian Mandarins- 09 Jan 2020
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Union Cabinet on Wednesday approved in-principle strategic disinvestment of equity shareholding in five small PSUs -- Neelachal Ispat Nigam Ltd, Minerals and Metals Trading Corporation Ltd, National Mineral Development Corp, MECON and Bharat Heavy Electricals Ltd.

It is believed that to meet the Rs 1 trillion target Union cabinet also cleared many proposals that included strategic disinvestment of small PSUs and ratification of MoUs on energy sufficiency between India and Britain. The cabinet has also cleared promulgation of Mineral Laws opening up coal mining for private sector players which may eventually lead to the end of the monopoly of Coal India (CIL) over coal mining. Reportedly, it will help improving the balance of payment as well. 

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Indianmandarins.com, an initiative of New Media Network, is a multi-media initiative for the fast and real-time dissemination of news and information related to civil services, central PSUs and other institutions that play a critical role in governance, administration, corporate governance, and public life in India. We aspire to provide our esteemed readers with news breaks and situation analysis in the above-mentioned domain of operations. Currently, we are available at www.indianmandarins.com. We are now planning to branch off into print publication and few other related business initiatives.