Government to consider stake sale in NTPC

NEW DELHI: The cabinet committee on economic affairs will on Thursday consider a proposal to sell 9.5% stake in central sector power utility NTPC. It will also consider a proposal to allow state miner NMDC to acquire 50% stake in Legacy Iron Ore, a listed Australian entity.

The government is lining up a number of state run companies for a big year end disinvestment rush to raise the Rs 30,000 crore budgeted for the year.

The government currently has 84.5% stakes in the country's biggest thermal power producer. The near 10% stake sale will fetch the government over Rs 13,000 crore at the current prices.

The government has not yet managed a single disinvestment issue in the current financial year.

Legacy Iron Ore is a Perth-based company that has interest in iron ore, coal and gold deposits. The cabinet will also take up government's response to the climate change negotiations at Doha.