October 20, 2009 8:37 PM

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Govt approves 5% stake sale in NTPC, 10% equity in SJVN

The Government has given its nod for the sale of five per cent stakes in the public sector National Thermal Power Corporation, NTPC and 10 per cent equity in the SUTLEJ Jal Vidyut Nigam. The decision on disinvesting the shares of the two companies was taken at the meeting of the Cabinet Committee on Economic Affairs in New Delhi on Monday. Briefing newsmen, the Commerce and Industry Minister, Mr. Anand Sharma said that part of the disinvestment in both the cases will be offered to the employees of the two public sector companies.The government's share holding in the NTPC which generates power will come down from 89.50 per cent to 84.50 per cent as a result of the disinvestment while in the Sutlej Jal Vidyut Nigam, the government's share in the company will come down to 65 per cent . However, the share of the Himachal Government in the company will remain the same at 25 per cent. The Sutlej Jal Vidyut Nigam is a joint venture between the Centre and the Himachal Pradesh in the ratio of 75 is to 25. The CCEA has given its approval for the wholesale price index to be released on monthly basis with the base year of 2004-05 instead of the 1993-1994. The weekly price index for primary articles and commodities in fuel, power, light and lubricants will continue to be released on weekly basis. The decision has been taken on the basis of Abhijit Sen Committee Recommendations. The government intends to start the new series of WPI from the 14th of next month. The Government said that the availability of essential commodities is being ensured and it is also keeping a watch over the prices. Briefing media on the meeting of the Cabinet Committee on prices the Commerce and Industry Minister Mr Anand Sharma said that the situation on both fronts is under control. He said that the availability of essential commodities including rice , wheat , edible oils and sugar was reviewed at the meeting. He said that the government is regularly monitoring the situation with regard to availability as well their prices.

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