Govt to divest 10-15 percent stake in Coal India: Jaiswal
merisarkar news service
New Delhi, February 01, 2010
Govt wud divest 10-15% in CIL: Jaiswal
Coal Minister Sriprakash Jaiswal on Monday said that the government plans to divest 10-15 per cent of its stake in Coal India Ltd in next six months. At present the Govt holds 100 per cent stake in the company.
Mr. Jaiswal said, "The process has already started and something between 10-15 per cent of government stake could be divested in the firm in the next six months,"
Coal India Chairman PS Bhattacharyya had last week said that only 10 per cent of the company could be disinvested due to regulatory hurdles.
Coal Ministry officials along with senior officials from Coal India and Department of Disinvestment would meet market regulator SEBI this month to take forward the process of listing the PSU.
Coal Minister hoped that the sector would witnees 7-8 per cent annual growth as against 3 per cent seen in the developed countries.
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