No plans to sell govt stake in RCF, Nat Fert

No plans to sell govt stake in RCF, Nat Fert

By agencies   |   Friday, 30 December 2005, 08:00 Hrs
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MUMBAI: The Union Government today ruled out divesting its stake in state-owned Rashtriya Chemicals and Fertilizers Ltd (RCF) and National Fertilizers Ltd.

"There is no proposal before the ministry to divest stake in RCF and National fertilizers... (And there is) no strategic sale of stake or disinvestments in (any) government- owned fertilizer or chemical plants," Union Minister for chemicals, fertilizers and steel Ram Vilas Paswan told reporters here.

The government has 92.5 percent stake in RCF and 97.6 percent in National Fertilizers respectively.
Recently, the Finance Ministry had made a proposal to reduce the government holdings in RCF and National Fertilizers.

Reacting to this, RCF Chairman and Managing Director U S Jha said he had not received any communication in this regard.

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