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Many profit making PSUs may be sold out soon

By IndianMandarins- 26 Sep 2019
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This will be for the first time when government completely exits from profit-making Central PSUs. The plan is to bring down government equity to zero in these three companies in phased manner. Though it was indicated in the budget that equity in PSUs would be brought down to below 51 per cent.

Reportedly, the Centre is all set to move a cabinet note for sale of its stake in major PSUs that included BPCL, CONCOR and Shipping Corporation of India (SCI).

At present, the government holds 63.75% equity in SCI, 54.8% in CONCOR and 53.29% stake in BPCL.

The government increased its disinvestment target to over Rs 1 lakh crore for the current financial year in the last budget.

It is also proposing to sell its 75% stake in THDC to NTPC, while 100 percent of its stake in North Eastern Electric Power Corporation Limited (NEEPCO) to NHPC.

 

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