Rediff Logo
Channels: Astrology | Broadband | Contests | E-cards | Money | Movies | Romance | Search | Women
Partner Channels: Auctions | Health | Home & Decor | IT Education | Jobs | Matrimonial | Travel
Home > Money > PTI > Report
December 27, 2001
0230 IST
  Money Matters

 -  'Investment
 -  Business Headlines
 -  Corporate Headlines
 -  Business Special
 -  Columns
 -  IPO Center
 -  Message Boards
 -  Mutual Funds
 -  Personal Finance
 -  Stocks
 -  Tutorials
 -  Search rediff


 Earn From

 Click Here to get
 guaranteed 6%*
 returns on your

  Call India
   Holiday Special
   Direct Service

  Save upto 60% over
    AT&T, MCI
  Rates 29.9/min
   Select Cities

   Prepaid Cards

  Mumbai 19.9/min
  Chennai 26/min
  Other Cities

 India Abroad
Weekly Newspaper

  In-depth news

  Community Focus

  16 Page Magazine
For 4 free issues
Click here!

 Search the Internet
 Sites: Finance, Investment
E-Mail this report to a friend
Print this page Best Printed on  HP Laserjets

Govt to sell stake in IBP, VSNL, ITDC & HCI by January next

The government on Wednesday night decided to sell its stake in Indo-Burma Petroleum (IBP), Videsh Sanchar Nigam Limited (VSNL) and 11 hotels of the Indian Tourism Development Corporation (ITDC) and Hotel Corporation of India (HCI) by January 2002 but deferred privatisation of loss- making Hindustan Copper till its financial restructuring.

The government also decided to sell a 51 per cent stake in profit-making Shipping Corporation of India (SCI) with a cap of 25 per cent for foreign investment.

Announcing the decisions taken at an extended meeting of the Cabinet Committee on Divestment chaired by Prime Minister Atal Bihari Vajpayee, Divestment Minister Arun Shourie said issues relating to surplus land, tax tangle and security would be settled before closing of the price bids that could spill over to early February.

Back to top
(c) Copyright 2000 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

Tell us what you think of this report