The Department of Disinvestment is likely to move the Cabinet note on Balco’s residual stake sale. The Prime Minister had convened a meeting with the Finance Minister and the Mines Ministry on the Hind Zinc-Balco stake sale.
This stake sale is likely to take place via an e-auction as Balco is not listed in the market and for transparency reasons as well. However, the CCEA note on this divestment is still not prepared since Law Ministry was to give opinions on whether Metal Corporation Act needs to be amended or not before selling the government’s 29 percent stake in HZL.
Also read: Here's how FinMin aims to meet its 4.8% fiscal deficit goalAs of now, the Balco stake sale looks like it is going to happen soon, HZL still waiting for Law Ministry’s opinion. This stake sale is likely to get rake in Rs 20,000 crore for the government exchequer.The government holds 29.54 percent stake in Hind Zinc. It has 49 percent stake in Balco.
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