Tamil Nadu CM offers to buy NLC stake via state PSUs
Tamil Nadu Chief Minister J Jayalalithaa has urged Prime Minister Manmohan Singh not to sell 5% stake in Neyveli Lignite Corporation (NLC) to private parties. Instead, she has offered to buy the stake through Tamil Nadu's public sector undertakings.
The Union Government currently owns 93.5% stake in NLC. Last week, the Cabinet Committee on Economic Affairs cleared the divestment plan through the offer for sale route that could potentially fetch more than Rs 460 core. Read More