(LiveMint) The government may end the cross-holding structure existing in the oil sector as it looks to further consolidate operations of public sector enterprises and go ahead with its privatisation plan by getting a fair valuation of assets. Official sources said that that all oil sector PSUs would be asked to exit from their investments made in equity shares of other state-owned entities. This could be done in phases, depending on the market conditions, so that the shares get maximum valuation. The cross-holding structure among oil PSUs was built in the late 1990s as the government sold its shares in…
Author: Aruna Sharma
(PTI) In December 2017, SAIL board had approved a proposal to enter into a JV with ArcelorMittal for manufacturing high-end automotive steel.SAIL is awaiting a response from ArcelorMittal regarding setting up a joint high-end automotive steel plant in India for which its board had given the go-ahead about two years ago, a top company official of the state-run steel major said. SAIL chairman A K Chaudhary said this while replying to a question related to the progress in talks with ArcelorMittal for setting up a joint venture (JV). In December 2017, Steel Authority of India Ltd (SAIL) board had approved a…
(OTV) Union Petroleum and Natural Gas minister Dharmendra Pradhan on Sunday suggested that an alumni fund should be set up for development of Utkal University and also assured to donate his one year’s salary to the fund. Addressing the function on the second day of platinum jubilee celebrations of the varsity, Pradhan who is also one of its alumni, said, “I will donate my one year’s salary to the alumni fund of the university by next week. The vice-chancellor will provide me the real-time gross settlement (RTGS) number and I will transfer the amount within the next two to four hours.”…
(PTI) In part indication of timelines for privatisation of India’s second biggest state oil refiner, the government has set a 50-day deadline for an outside ‘asset valuer’ to carry out the valuation of all assets of Bharat Petroleum Corp Ltd (BPCL), a process once completed will trigger invitation of price bids from potential acquirers. The Cabinet Committee on Economic Affairs (CCEA) had on November 20 given a go-ahead for sale of government’s entire stake in BPCL,Shipping Corporation of India Ltd(SCI), power generator THDC India Ltd (THDCIL) and North Eastern Electric Power Corp Ltd (NEEPCO) to a strategic investor along with…
(ET) Gujarat government on Friday launched a web portal for applying online for waiver of electricity duty. Under this initiative, industrial units will have the facility to make online application for waiver of electricity duty. Describing the new feature of the portal, energy minister Saurabh Patel said, “With implementation of this new system, Gujarat will be the first state in the country to introduce waiving of electricity duty through online processing.” The minister further stated that for availing waiving of electricity duty, industrial units will have to make online registration and submission of application along with uploading of mandatory documents on…
(The Tribune) After visiting CRPF’s headquarters last week, Union Home Minister Amit Shah will now meet officials of the ITBP at their headquarters next week and discuss with them operational preparedness of the force. Officials today said the Home Minister was expected to make a visit to the headquarters of the force here sometime next week and review its operational preparedness with senior officers. He is also expected to discuss issues pertaining to the Line of Actual Control with China and its other engagements including internal security duties. It is also learnt that Shah on his visit to the ITBP…
BJP National Working President Shri J.P Nadda’s Speech In Jharkhand
(Tribune) Chief Minister Jai Ram Thakur today called on Prime Minister Narendra Modi in New Delhi and thanked him for visiting Himachal to inaugurate the Global Investors’ Meet. Various Central government-aided projects were discussed and Thakur requested the PM for speedy approval and support. The latter assured of all possible help. As the CM is in Delhi, speculations are rife that discussions on expansion of Cabinet also took place, but there is no confirmation yet. The Cabinet expansion is on the cards as two posts are lying vacant. Cabinet minister Anil Sharma quit after his son contested the Lok Sabha poll…
(ET) More than 22 different employee unions plan to go on strike across the country in protest against the government’s decision to privatize India’s second-largest fuel retailer BPCL, spokespersons of the unions belonging to BPCL and Numaligarh Refinery. Also, Federation of Oil PSU Officers (FOPO) and Confederation of Maharatna Companies (COMCO), claiming to represent over 70,000 officers of the oil and gas sector, have in a letter to Prime Minister Narendra Modi voiced their opposition over privatisation of BPCL. Representatives of four employee unions told that oil sector employees across the country are concerned over the news of government cutting its…
(PTI) The government is planning to set up 14-megawatt solar power projects in Leh and Kargil, Minister of State for Power and New & Renewable Energy R K Singh said on Thursday. The projects will be developed under the Prime Minister Development Package 2015, Singh said in a reply to a question in the Lok Sabha. “The MNRE (Ministry of New and Renewable Energy) has planned to set up solar power projects with a cumulative capacity of around 14 MW (megawatts) with a battery storage capacity of 42 MWh (megawatt-hour) in Leh and Kargil,” he said.