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Last Updated : Nov 08, 2018 09:02 PM IST | Source: Moneycontrol.com

Govt approves sale of entire stake in Dredging Corp, leasing of 6 airports under PPP model

The six airports to be leased are Ahmedabad, Jaipur, Lucknow, Guwahati, Thiruvananthapuram and Mangaluru.

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The Cabinet Committee on Economic Affairs (CCEA) on November 8 approved divestment of its entire 73.44 percent stake in Dredging Corporation of India to a consortium of four ports.

The government's divestment target for the fiscal was Rs 80,000 crore and so far it has garnered over Rs 15,000 crore from PSU stake sales.

Speaking to the media, Law Minister Ravi Shankar Prasad also stated that the cabinet has given in-principle approval for the development, operation and management of six airports using the Public-Private Partnership (PPP) model, among other measures. The six airports to be leased are Ahmedabad, Jaipur, Lucknow, Guwahati, Thiruvananthapuram and Mangaluru.

The cabinet has also finalised the sale of 65,075,877 enemy property shares worth Rs 3,000 crore in 1968. These include movable and immovable shares of 996 companies.

An amendment to the 49-year-old Enemy Property (Amendment and Validation) Act ensures the heirs of those who migrated to Pakistan and China during Partition and afterwards will have no claim over the properties left behind in India.

The cabinet has approved the policy to invite international companies to invest in strategic oil reserves in India using the PPP model. This is expected to bring in Rs 10,000 crore of savings.
First Published on Nov 8, 2018 08:46 pm
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