Govt to sell stake in HCL, 2 other PSUs

Seeking to avoid bunching of PSU stake sales towards the end of this fiscal, government has decided to kick off disinvestment programme in the April-June quarter of 2013-14 by offloading equity in Hindustan Copper (HCL), THDCIL and NEEPCO.

“Draft CCEA note has been moved for inter-ministerial comments for 10 per cent stake sale in THDCIL and NEEPCO. These are small issues and to be pushed for the first quarter itself,” official sources said. Tehri Dam & Hydro Electric Project (THDCIL) is a joint venture between the centre and the Uttar Pradesh government, while North Eastern Electric Power Corporation Ltd (NEEPCO) is owned by central government. 

The government has identified around 20 companies for stake sale and 2013-14 budget is likely to fix disinvestment mop-up at Rs 40,000 crore.

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