(ET)
The state-run REC Ltd has suggested the government consider selling Power Finance Corporation’s (PFC) stake in the company to Power Grid Corp of India (PGCIL). In a presentation made to the power ministry in the last week of June, REC suggested a non-banking public sector company acquire PFC’s stake in the company. The meeting, chaired by power and renewable energy minister RK Singh, discussed the option of PGCIL acquiring PFC’s stake in REC. The power ministry has asked REC to submit a proposal, a top bureaucrat told.
