Govt to sell 15% stake in Hindustan Copper

As part of its disinvestment plans via stake sale in public enterprises during this fiscal, government will sell 15 percent of its shareholding in Hindustan Copper Ltd, Parliament was informed on Friday.

Govt to sell 15% stake in Hindustan Copper

New Delhi: As part of its disinvestment plans via stake sale in public enterprises during this fiscal, government will sell 15 percent of its shareholding in Hindustan Copper Ltd, Parliament was informed on Friday.

According to budget estimate for 2015-16 fiscal, government targets to garner Rs 69,500 crore through divestment.

This will comprise Rs 41,000 crore from disinvestment of central public sector enterprises (CPSEs) and Rs 28,500 crore from strategic divestment.

"The proposal for disinvestment of 15 percent paid up equity of the Hindustan Copper Ltd (HCL), out of government's shareholding of 89.95 percent has been approved by the government," Minister of State for Finance Jayant Sinha said in a written reply in Lok Sabha.

Replying to a question on All India Radio, he said "There is no proposal for disinvestment of the All India Radio."

Further, Sinha informed that government has identified some CPSEs for disinvestment during the year in sectors such as defence, fertiliser, heavy engineering, minerals & metals, oil, power, steel, technical consultancy, tourism, transport services and trading & marketing.

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