Central government will sell its PSUE's stake to five companies
By Molitics 10-Dec-2019
- Taking a major step on the economic reforms, the Union Cabinet has approved the sale of the government's stake in major public sector undertakings.
- On Wednesday, Bharat Petroleum Corporation Ltd. (BPCL), Shipping Corporation of India, Container Corporation of India, Shipping Corporation of India, Container Corporation of India and THDCILN have been approved to handover the stake.
- The major change will be 100% disinvestment in North Eastern Electric Power Corporation, out of which it has been decided to sell 30.8% stake in CONCOR.
- FM Nirmala Sitharaman informed that besides selling the stake in it, management control will also be handed over to the companies.
- Apart from this, the Cabinet has also approved to bring down the government's stake below 51 percent in the selected PSUs.
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