August 27, 2014 10:12 PM

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Govt defers decision on its stake sale in ONGC, Coal India, NHPC

The government has deferred a decision on its stake sale in three PSUs ONGC, Coal India and NHPC as Finance Minister Arun Jaitley was not in town. Law Minister Ravi Shankar Prasad told this to reporters after the Cabinet Committee on Economic Affairs, CCEA meeting in New Delhi today.In the current fiscal the government plans to mop up Rs. 43,425 crore from selling stake in PSUs.The CCEA allowed Madras Fertilizers Limited Manali, Manglore Chemicals and Fertilizers Ltd Mangalore and Southern Petrochemical Industries Corporation, Tuticorin to continue urea production by using existing feedstock of naptha from 1st July to 30th September 2014.The centre had earlier directed the fertilizers producers to switchover from naptha to natural gas from 1st of July or else subsidy will be stopped.This step will help in meeting the requirement of urea for farmers in the ongoing kharif season. The CCEA also gave its nod to the Ministry of Road Transport and Highways to amend the Model Concession Agreement as may be required from time to time and to decide the mode of delivery of projects.

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