Home BusinessCoal ministry mulls proposal to divest stake in CIL
The Coal Ministry is working on a proposal to disinvest 5-10 per cent stake in navratna PSU Coal India Ltd, a move which may pave way for early listing of the country"s largest producer of the dry fuel.
"We are working on a proposal to disinvest 5-10 per cent stake in Coal India. I have informed the Finance Minister about it but we have not given it in writing," Jaiswal told reporters here after holding a pre-budget meeting with Finance Minister Pranab Mukherjee.
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The minister said that he has also sought reduction in customs duty on heavy machines used for mining purposes, without divulging any figures.
Coal India plans to acquire sophisticated mining equipment to boost its output. The company targets an output of 435 million tonnes of coal in the current fiscal.