Apart from BPCL, the Cabinet also approved divestment
of its stake from Shipping Corp, THDC India, and NEEPCO, and most of its stake in Container Corporation of India (CONCOR).
Sitharaman also said NTPC will buy the Centre’s entire stake in two unlisted companies, THDC India and NEEPCO. The Centre owns 74.23 per cent in THDC, with the rest owned by Uttar Pradesh. It owns 100 per cent stake in NEEPCO.
These major divestment
decisions were taken even as the government races against time to meet its highest ever divestment
target of Rs 1.05 trillion for 2019-20. The Centre hopes that disinvestment proceeds will make up for some of the revenue shortfall that is expected this year.