The sale of controlling stake in 13 public sector companies, which had been cleared by the previous government, has been called off, Rajya Sabha was told on Tuesday.
"In keeping with the National Common Minimum Programme guidelines, it has been decided to call off the process of divestment through strategic sale, approved earlier," Minister of State for Finance S S Palanimanickam told the Upper House in a written reply.
The Divestment Development: Complete Coverage
He said so far no decision has been taken for divestment in any other specific public sector enterprise.
The National Democratic Alliance government had identified 13 profitable public sector undertakings for strategic divestment, including National Aluminium Company Limited, Shipping Corporation of India, Hindustan Petroleum Corporation Ltd, State Trading Corporation, Engineers India Ltd and Balmer Lawrie Ltd.
Other companies that were listed for divestments included National Fertilisers Ltd, Rashtriya Chemicals and Fertilisers Ltd, Manganese Ore India Ltd, Sponge Iron India Ltd, National Building Construction Ltd, Engineering Projects India Ltd and Hindustan Paper Corpotration.
