October 19, 2009 12:59 PM

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Union Cabinet approves 5% disinvestment in NTPC

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 Sutlet 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. In the Sutlej Jal Vidyut Nigam, the government's share in the company will now come down to 65 per cent as a result of the disinvestment. However, the share of the Himachal Government will remain the same at 2 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.

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