The Ministry of Health has made a plea to the Finance Ministry that the government should not own any stake in tobacco firms, said Health Secretary C K Mishra, according to a report in Business Standard on Friday.
The appeal comes in the backdrop of criticism from NGOs and activists that the government has been heavily investing in ITC, while arguing that tobacco could kill, the report stated.
Life Insurance Corporation of India (LIC) had a 14.3 percent stake; National Insurance Company, 1.2 percent; Oriental Insurance Company, 1.5 percent; General Insurance Company, 1.8 percent; New India Assurance (NIACL), 1.8 percent; and the Specified Undertaking of Unit Trust of India (SUUTI), 11.1 percent, according to the report which detailed ITC's September filing with the stock exchanges.
Besides, in VST Industries, a Hyderabad-based cigarette manufacturer and distributer, NIACL had a 1.8 percent, according to the filing.
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