Government to disinvest equity in PFC, NMDC

New Delhi, May 16: The Government has decided to list profitable Central Public Sector Enterprises (CPSEs) each with a net worth of Rs 200 crore on the domestic stock exchanges, Minister of State for Finance S S Palanimanickam said here today.

Consequently, the government has recently decided to disinvest five per of its equity shareholding of 100 per cent in the Power Finance Corporation and also to disinvest 15 per cent of its equity shareholding of 98.39 per cent in the National Mineral Development Corporation through the 'offer for Sale' in the market.

Mr Palanimanickam said in the Rajya Sabha during question hour that the disinvestment of the government equity in PFC would be through piggy-back on the public issues being done by the the corporation.

He said proceeds from disinvestment of Government equity in CPSEs would be channelised into the 'National Investment Fund'(NIF) . The annual income of NIF will be used to finance selected social sector schemese, which promote education, health and employment, and to meet the capital investment requirements of profitable and revivable CPSEs.

UNI