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![The Coal India stake sale has been halved from 10 per cent to 5 per cent after union opposition [Image: PTI]](http://thebricspost.com/wp-content/uploads/2015/01/M_Id_422820_Coal_India.jpg)
The Coal India stake sale has been halved from 10 per cent to 5 per cent after union opposition [Image: PTI]
Media reports have said the government is aiming to sell a 5 per cent stake in state miner Coal India (COAL.NS), which could fetch about $1.5 billion. The Coal India stake sale has been halved from 10 per cent to 5 per cent after union opposition.
Jaitley, in the western Indian city of Ahmedabad on Monday, said the government will sell part of its stake in more than one public sector company before March-end.
“I am not making any comment on any specific company. All I can say is that the names being mentioned in the media are speculative,” the Finance Minister told reporters.
“As far as the government is concerned… In the next two-and-half months, leading up to March 31… Is going about disinvestment in more than one company, which is going to be our priority,” he said. He, however, did not name the firms where the government is looking at divesting its stake.”… Which is the one that we are coming up first, nobody knows, and therefore reports in media are speculative,” he said.
The sales of a 10 per cent share sale in Coal India, 5 per cent in ONGC (Oil and Natural Gas Corporation) and 11.36 per cent in NHPC will help Indian Prime Minister Narendra Modi keep his promise of narrowing the budget deficit to the smallest in seven years after he swept into office in May with the strongest mandate in 30 years.
TBP and Agencies
