NITI Aayog proposes 26 per cent strategic sale in Shipping Corporation of India

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New Delhi | June 14, 2017 11:00 PM

NITI Aayog has proposed the strategic sale of about 26 per cent stake in Shipping Corporation of India, which could fetch about Rs 960 crore to the exchequer.

NITI Aayog, strategic sale in Shipping Corporation, Shipping Corporation, Shipping Corporation of India, sale in Shipping Corporation, Shipping Ministry, Navratna PSU Shipping Corporation of India,  Navratna PSU, Cabinet Committee on Economic Affairs, Economic AffairsThe government, at present, holds 63.75 per cent stake in Navratna PSU Shipping Corporation of India. (IE)

NITI Aayog has proposed strategic sale of about 26 per cent stake in Shipping Corporation of India, which could fetch about Rs 960 crore to the exchequer. According to sources, the core group of secretaries on disinvestment, headed by the cabinet secretary, discussed the proposal and has mandated the Shipping Ministry find out legal hassles, if any, in the process. The government, at present, holds 63.75 per cent stake in Navratna PSU Shipping Corporation of India. After the sale of 26 per cent stake, the government holding in the company will come down to 37.75 per cent. Sources said the proposal would soon go to the Cabinet Committee on Economic Affairs. The sale of 26 per cent stake could fetch about Rs 960 crore to the exchequer at current market prices. The government has budgeted to raise Rs 15,000 crore through strategic sale of PSUs this fiscal.

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