News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

Rediff.com  » Business » Govt to divest 10-15% in Coal India in 6 months

Govt to divest 10-15% in Coal India in 6 months

Source: PTI
February 01, 2010 17:29 IST
Get Rediff News in your Inbox:

CoalUnion coal minister Shriprakash Jaiswal said the government will divest 10-15 per cent of its stake in Coal India in the next six-months.

"The process has already started and something between 10-15 per cent of government stake could be divested in the firm."

Jaiswal told reporters on the sidelines of the ICAI awards ceremony in Mumbai on Sunday night.

Coal ministry officials along with senior officials from Coal India and department of disinvestment would meet capital market regulator Securities and Exchange Board of India this month to take forward the process of listing the public sector unit.

At the forthcoming Budget, Jaiswal said the last six budgets prepared by the Congress-led United Progressive Alliance government has been overwhemling and the coming Budget would also satisfy the people.

"All the last six budgets were beyond the expectations of the common people and this year too, I hope that it will be able to meet the expectation of the country," he said.

On the coal sector, Jaiswal said he expected a 7-8 per cent annual growth rate as against a mere 3 per cent in developed nations.

Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 

Moneywiz Live!