indias-privatisation-programme-stalls-again

India's privatisation programme stalls again

IndiaÆs coalition government abandons stake sale plans after kneejerk reaction to sale of 10% stake in Neyveli Lignite.
The fragile nature of IndiaÆs ruling coalition government was clearly in evidence last week when disinvestment plans were, yet again, put on hold. The decision was precipitated by a chain of events sparked by the governmentÆs announcement to offload a 10% stake in the Neyveli Lignite Corporation.

On June 22 IndiaÆs Cabinet Committee for Economic Affairs had approved the disinvestment of 10% stake in two companies, National Aluminium Company and Neyveli Lignite. The government owns 87% in the former and. 93% in the latter. Both companies are listed. While announcing the sale IndiaÆs Finance Minsiter Chidambaram had clearly stated that the 10% stake sale was not privatisation but rather was a move to generate revenues...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222