Millennium Post

Ministry hopes it can throw away 5% CIL stake

The Coal Ministry on Wednesday expressed hope of getting the go ahead for divestment of five per cent stake in Coal India Ltd that could raise Rs 10,000 crore for the exchequer, despite a section of the trade unions opposing the decision.

‘We are hopeful of resolving the issues with the unions of CIL,’ Coal minister Sriprakash Jaiswal said here on the sidelines of an interactive session at the MCC Chamber of Commerce and Industry.

‘We have said that we will go in for 5 per cent disinvestment. I am aware of the situation. I am sure we will get everybody on board,’ he said. Coal India’s CITU-led All-India Coal Workers Federation (AICWF) served a three-day strike notice to protest against the proposed disinvestment of the Coal India stake.
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