The Cabinet Panel may consider Indian Oil Corporation (IOC) divestment this June, as the government gears up to meet its Rs 40,000-crore divestment target for this year. The centre plans to raise Rs 6000-7000 crore via 10% stake sale in IOC.
However, there are reports that the government’s plan to offload 10% stake in state-run IOC may get delayed after a committee was constituted to resolve dispute between the finance and oil ministries over computation of fuel subsidies.
The department of divestment has also floated a Cabinet note for 11.36% divestment in the National Hydroelectric Power Corporation (NHPC) via the offer-for-sale route as well as divestment in Coal India and Hindustan Copper.