Govt formally calls-off privatisation of EPIL
In line with its Common Minimum Programme not to privatise profit-making PSUs, the government on Thursday dropped a proposal to sell its stake in Engineering Projects India Ltd.
By PTI |
NEW DELHI: In line with its Common Minimum Programme not to privatise profit-making PSUs, the government on Thursday dropped a proposal to sell its stake in Engineering Projects India Ltd.
"The Cabinet has decided to give up the proposal to sell government stake in Engineering Projects India Ltd," Finance Minister P Chidambaram told reporters after a Cabinet meeting.
Chidambaram said the proposal to privatise the PSU was originally made by the previous NDA government.
The proposal was dropped as EPIL has now turned into a profit making enterprise, he said.
EPIL was one of the 13 companies, which were dropped from the privatisation list by the UPA government in August last year. Besides EPIL, other major companies in that list were NALCO, HPCL, State Trading Corporation, Shipping Corporation of India and Engineers India Ltd.
Asked whether the government has decided to sell its residual stake in aluminimium firm Balco, he said no such proposal was taken up for discussion.
The cabinet also deferred a decision on selling government equity in Tyre Corporation of India, he said.
"The Cabinet has decided to give up the proposal to sell government stake in Engineering Projects India Ltd," Finance Minister P Chidambaram told reporters after a Cabinet meeting.
Chidambaram said the proposal to privatise the PSU was originally made by the previous NDA government.
The proposal was dropped as EPIL has now turned into a profit making enterprise, he said.
EPIL was one of the 13 companies, which were dropped from the privatisation list by the UPA government in August last year. Besides EPIL, other major companies in that list were NALCO, HPCL, State Trading Corporation, Shipping Corporation of India and Engineers India Ltd.
Asked whether the government has decided to sell its residual stake in aluminimium firm Balco, he said no such proposal was taken up for discussion.
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The cabinet also deferred a decision on selling government equity in Tyre Corporation of India, he said.
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