The Shipping Ministry is not opposed to strategic divestment of the Shipping Corporation of India (SCI), a high official stated.
The Shipping Ministry in 2017 had opposed the proposal of the strategic divestment of SCI, however has now agreed to the proposal of the group of secretaries for dilution of stake within the SCI, the official stated.
A group of secretaries had just lately permitted the strategic sale of Shipping Corporation of India together with a number of different PSUs.
“We had not opposed the strategic sale of SCI,” Union Shipping Secretary Gopal Krishna informed PTI when requested about its stand on the proposal of the group of secretaries.
“The matter is now with the Cabinet,” Krishna stated.
The authorities at the moment holds 63.75 per cent stake within the Shipping Corporation of India, the nationwide flag service.
The Union Cabinet in October had permitted the brand new coverage below which the Department of Investment and Public Asset Management (DIPAM) below the Ministry of Finance has been made the nodal division for the strategic stake sale.