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INDIAN COAL MINISTRY OPPOSES DISINVESTMENT IN NLC.
NEW DELHI, Jan 1 Asia Pulse - The Coal Ministry has opposed disinvestment in Neyveli Lignite (NLC) pending legislative reforms in coal and power sectors.
"We have told the Disinvestment Commission that dilution of government's equity in NLC at the current juncture would serve no purpose without undertaking major reforms", official sources told PTI. NLC was one of the four PSUs including RITES, Maganese Ore (MOIL) which were referred to the newly constituted commission about three months back.
Sources said coal ministry has identified four issues which have to be sorted out prior to privatisation.
Among the issues are current legislative framework wherein private sector mining in coal and lignite is permitted only for captive purposes.
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Source: HighBeam Research, INDIAN COAL MINISTRY OPPOSES DISINVESTMENT IN NLC.