It is reported that the proposal to divest Government's stake in SAIL and NMDC is final and would be sent to the Union Cabinet next month for approval
Mr Vir Bhadra Singh union steel minister on the sidelines of Metals Minerals Manufacturing Expo said that “The disinvestment proposal for SAIL and NMDC has been finalised and will be put before the union Cabinet in December for approval.”
Mr Atul Chaturvedi steel secretary while speaking to ET said that “Based on current market prices, the government’s divestment in NMDC Ltd should fetch around INR 13,000 crore. In case of SAIL, we expect the to raise nearly 16,000 crore. While SAIL will get INR 8000 crore, another INR 8000 crore should flow directly into government coffers as a result of disinvestment.”
The steel ministry has approved the disinvestment proposal, which has also received in principle approval of the disinvestment department of the finance ministry.
(Sourced from BL and ET)
