New Delhi, July 11: Cabinet Committee on Disinvestment (CCD) is understood to have cleared a proposal for privatising Manganese Ore India (MOIL). Government is likely to offload 51 per cent stake in the company in favour of a strategic partner, official sources said.

Centre currently owns 82 per cent stake in the company while Madhya Pradesh and Maharasthra governments own the rest.

Earlier, the employees of the company had approached the government with a proposal to buy out the equity.
The meeting was also scheduled to discuss strategies for raising additional resources from disinvestment of PSUs including offering stake to investors through a public float in NTPC, BSNL, IOC, GAIL and ONGC.
Another strategy mooted by the department involved drawing down cash reserves of three oil PSUs.


Bureau Report