November 5, 2009 2:20 PM

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Public to hold 10 per cent in all listed PSUs; Govt. to continue holding majority stake

The Government has made it mandatory for all profitable listed Central Public Sector Enterprises to disinvest 10 per cent of its equity for public ownership. The Home Minister was briefing media on the decisions taken by the Cabinet Committee on Economic Affairs in New Delhi today.<br/><br/>Mr.Chidambaram said that all the unlisted CPSEs, which have been having net profit in the three proceedings consecutive years with no accumulated losses should also get listed on the stock exchange. The Home Minister said that in the joint sitting of the Parliament in July this year, the Government had expressed its intention to encourage peoples' participation in the disinvestment programme. It had been mentioned that public sector undertakings are the wealth of the nation and part of the wealth should rest in the hands of people while retailing at least 51 per cent government equity in the enterprises.<br/><br/>In an other decision, the Government has decided to raise the minimum support price for Rabi crops of 2009-10 season. The MSP for wheat has been increased by 20 rupees per quintal, now the price fixed is Rs1100 instead per quintal. The MSP for Barley has been increased by 70 rupees and gram as well as Safflower by 30 rupees each. The MSPs of other Rabi crops will remain unchanged at the last year's level.

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