Reportedly the narendra modi led government gave in-principle approval for the sale of its stake in five Corporate Public Social Enterprises (CPSEs), including bharat petroleum corporation limited (BPCL), Shipping Corporation of india and Container Corporation of India. The approval paves the way for the government to sell 53.2 per cent of its stake in BPCL. But this will not include BPCL's equity shareholding in Numalighar Refinery, which is based in Assam.
The government has also decided to approve 53.75 per cent stake sale in Shipping Corporation of india, 30.8 per cent in Container Corporation of india (CONCOR), to a strategic buyer, announced Finance minister nirmala sitharaman at a press conference. It has also decided to sell 74.34 per cent of THDC india and 100 per cent in North Eastern Electric Power Corporation Limited (NEEPCO) to state-owned NTPC.
Sitharaman said that the cabinet has approved reducing the government's stake in the aforementioned CPSEs below 51 per cent with the transfer of "certain management control".
