CCD Likely To Meet Today

New Delhi, May 30: | Updated: May 31 2002, 05:30am hrs
The cabinet committee on disinvestment (CCD) is expected to meet on Friday to take final decision on the sale of five hotels of India Tourism Development Corporation (ITDC).

The committee will scrutinise the price bids for the ITDC properties including the ones located at Kovalam (Kerala), Aurangabad (Maharashtra) and Manali (Himachal Pradesh.

It may be recalled that earlier the government could not sell the five ITDC properties because of lack of bidders or the bid being lower than the reserve price. The CCD meet will be chaired by Prime Minister Atal Bihari Vajpayee.

The government, which has fixed a disinvestment target of Rs 12,000 crore for the current fiscal, has already sold off its stake in major companies, Hindustan Zinc Ltd, Indian Petrochemicals Corp Ltd and Maruti Udyog Ltd.