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Finance Minister Arun Jaitley

The government, in September, had approved diluting its shareholding in Coal India (CIL), ONGC and NHPC.

 
 
The government has set up a committee to examine ways sick public companies can be resuscitated, including using cash reserves from profit-earning PSU firms.
The decline in international prices of oil also leads to an easing of the subsidy burden of the government and a reduction in the country's import bill.
The PSUs that have been identified for revival include HMT Machine Tools, Heavy Engineering Corporation, NEPA, Nagaland Paper and Pulp Company and Triveni Structurals.
"This is the first ever project of 800 MW unit rating ordered in the country on EPC basis and is also the highest valued order placed by GSECL," the statement said.
There are 70 sick PSUs and 43 out of these can be revived, the Heavy Industries and Public Enterprises Minister Anant Geete said in SIAM conference in New Delhi.
Former coal secretaries Alok Perti and C Balakrishnan quit ahead of AGM, where CIL would have asked for ratification of their appointments for a three-year term.
 
 
In the joint venture, Bharat Electronics holds a 74 per cent stake and Thales holds 26 per cent of equity.
At its September 19 meeting, the board of Punjab National Bank also discussed various options of raising capital to meet Basel-III norms.
Independent directors of a public sector company are appointed by the Appointments Committee of Cabinet (ACC) consisting of the prime minister and the home minister.
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