Government is proposing to disinvest 10% GoI’s equity in Coal India Ltd (CIL)
out of its holding of 89.65%. This was stated by Sh. Piyush Goyal, Minister of
state for Power, Coal & New and Renewable Energy (Independent Charge) in a
written reply to a question in the Lok Sabha today.
Minister further stated that the Government has constituted the National
Investment Fund on 3rd November, 2005, into which the proceeds from
disinvestment of CPSEs were to be channelized. The Government on 17th
January, 2013 and 21st February, 2013 has approved restructuring of
the NIF and decided that the disinvestment proceeds with effect from the fiscal
year 2013-14 will be credited to the existing ‘Public Account’ under the head
NIF and they would remain there until withdrawn/invested for the approved
purposes. It was decided that the NIF would be utilized for the following
Subscribing to the shares being issued by the CPSEs including Public
Sector Banks (PSBs) and Public Sector Insurance Companies, on rights basis so
as to ensure 51% ownership of the Government in those CPSEs/PSBs/Insurance
Companies, is not diluted.
Preferential allotment of shares of the CPSE to promoters as per SEBI
(Issue of Capital and Disclosure Requirements) Regulations, 2009 so that
Government shareholding does not go down below 51% in all cases where the CPSE
is going to raise fresh equity to meet its capital expenditure programme.
Recapitalization of public sector banks and public sector insurance
Investment by Government in RRBs/IIFCL/NABARD/Exim Bank.
Equity infusion in various Metro projects.
Investment in Bhartiya Nabhikiya Vidyut Nigam Ltd and Uranium
Corporation of India Ltd.
Investment in India Railways towards capital expenditure.
RM/ND/RS- USQ5314 – LS