Disinvestment of Coal India on cards, discloses ministerJune 16th, 2009 - 6:53 pm ICT by IANS
New Delhi, June 16 (IANS) The government is considering divesting up to 10 percent stake in the state-run Coal India Ltd, the country’s largest coal miner, Coal Minister Sriprakash Jaiswal said here Tuesday.
“We are working on a proposal to disinvest 5 to 10 percent stake in Coal India. I have informally told about this to the finance minister (Pranab Mukherjee),” Jaiswal told reporters here.
The government is also planning to offer the company’s shares to people from whom it acquires land for mining. Another proposal to offer equities to company employees is also being considered, Jaiswal said.
The minister said he had requested the finance minister to reduce custom duty on heavy mining equipment.
Jaiswal had said Monday that the government was “strongly considering” allowing commercial coal mining by private companies in a bid to bridge the demand-supply gap.
Currently, only state-run firms are allowed to mine for commercial use. India produces over 450 million tonnes of coal annually.
- India plans sovereign fund to buy coal assets abroad - May 04, 2012
- Government may allow private companies to mine coal - Jun 15, 2009
- We cannot meet power firms' coal demands: Minister - Dec 01, 2011
- India seeks clean coal technologies from South Africa - Jan 06, 2011
- Government to raise Rs.4,000 crore by selling stake in SAIL (Lead) - Jul 20, 2012
- Industry chamber seeks transparency in coal allocation - Oct 11, 2011
- Coal workers threaten to go on strike - May 02, 2012
- Government mulls competitive bidding of coal blocks - May 24, 2011
- Coal India plans to earmark 1 percent share for staff - Feb 09, 2010
- Power plants should import coal, says minister - Dec 19, 2011
- Government allows state-owned firms to buy back shares - Mar 01, 2012
- Coal India rolls back recent price hike - Jan 31, 2012
- No loss in coal block allocations: Government (Lead) - Aug 24, 2012
- State police not doing enough to check coal theft: Minister - Jun 18, 2010
- Coal India to decide on anchor investor in two-three days - Aug 13, 2010
Tags: cards, coal india ltd, coal miner, coal mining, custom duty, disinvest, disinvestment, finance minister, gap, jaiswal, mining equipment, New Delhi, percent stake, pranab mukherjee, private companies, proposal, tonnes