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

By IndianMandarins- 09 Jan 2020


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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