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Coal 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. Sensex pares gains; Hindalco up 4% Loan prepayment does not violate competition laws:Banks SRK stands by his IPL remarks, says India a welcoming place Obama proposes substantial jump in aid to Pak Oil rises on bullish US manufacturing data 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.


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