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    Government approves strategic disinvestment of stakes in HPCL, NPCC, REC, others

    Government approves strategic disinvestment of stakes in HPCL, NPCC, REC, others

    Government approves strategic disinvestment of stakes in HPCL, NPCC, REC, others
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    By CNBC-TV18  IST (Updated)

    The Centre has given ‘in-principle’ approval for strategic disinvestment of 28 central public sector enterprises (CPSEs) including National Project construction corporation, Hindustan Petroleum Corporation Limited, Rural Electrification Corporation Limited and Cement Corporation of India.
    The decision was conveyed by Anurag Singh Thakur, Union Minister of State for Finance and Corporate Affairs, in a written reply to a question in Rajya Sabha on Tuesday.
    Among the other companies which received the government nod for disinvestment are Project & Development India, Pawan Hans Ltd, Bharat Pumps & Compressors, Hindustan Fluorocarbon Ltd, Air India and its five subsidiaries and one JV and others.
    "Besides, in certain other CPSEs, policy of minority stake sale without transfer of management control through various SEBI approved methods, are being followed in order to unlock the value, promote public ownership and higher degree of accountability," a statement said.
    Singh further stated that the Cabinet Committee of Economic Affairs (CCEA) is mandated to approve strategic disinvestment of CPSEs.
    However, there is no approval yet of the CCEA with regard to strategic disinvestment of Bharat Petroleum Corporation Limited (BPCL), Container Corporation and Shipping Corporation of India.
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