Wednesday, May 5, 2010

Disinvestment in NALCO
  
The Minister of Mines and Development of North Eastern Region Shri B.K. Handique has said that the Ministry of Finance (Department of Disinvestment) had made a reference to Ministry of Mines in March, 2010 to consider disinvestment of 10% equity out of the remaining 87.15% of total paid up capital held by the Government of India in National Aluminium Company Limited (NALCO). The Ministry of Mines has referred the matter to NALCO to study the advantages and disadvantages of the proposal.

In a written reply in the Lok Sabha today he said, 12.85% of NALCO’s equity is already with the public and the proposal to offload another 10% was made to broad base the public ownership of the Company and to unlock further value.

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