CCEA to look at stake sale of CIL, ONGC, NHPC at 6 pm

NEW DELHI: The Cabinet Committee on Economic Affairs (CCEA) is expected to look into selling government’s stakes in Oil and Natural Gas Corp, Coal India and NHPC to mop up an estimated Rs 43,700 crore on Wednesday evening.

Sources said the three disinvestment proposals were on the agenda of CCEA scheduled to meet at 6 p.m. However, Finance Minister Arun Jaitely is in Mumbai and is unlikely to be present in the CCEA meeting.

CCEA will consider selling 10% in Coal India to fetch around Rs 22,568 crore, 5% in ONGC to mop up Rs 18,233 crore and 11.36% in NHPC for Rs 2,920 crore.

The government plans to raise Rs 58,425 crore through disinvestment proceeds in the current financial year.