Left to clear equity sale of non-navratnas

Font Size

Print

Feedback

Email

Discuss

Related Articles

Somnath will take his own decision, says Left

New Delhi, Dec 29: The much-awaited ‘green signal’ from the Left parties on the disinvestment of profit-making non-navratna companies is likely to come on January 2, when the Left leadership meets to debate the issue.

Party circles on Thursday indicated that the issue was likely to be sorted out next week, when it would consider the government’s proposal to sell minority stakes in state-run companies with a ’non-navratna’ status.

“We are going to consider the finance minister’s proposal to disinvest small portions of equity at the Left meeting,” a party leader said. The finance minister had on Wednesday met Left leaders and proposed divestment between 10-15% equity in the Power Finance Corporation, Hudco, National Mineral Development Corporation and Neyveli Lignites.

Firming up his case on the issue, the finance minister reassured the Left leaders that the government was committed to retaining majority stake in profitable PSUs. Commenting on the meeting with the finance minister, CPI general secretary AB Bardhan said, “The finance minister has proposed a few names for disinvestment of companies in which the government ownership is between 85-100%. We will hold a meeting soon in which the issue will be discussed.”