The development is in response Prime Minister Manmohan Singh asking the state to depute before August 8 a senior officer to discuss the state government's proposal for purchasing five per cent stake in the state-run mining firm.
Must Read: Karuna appeals to PM to accept TN govt's proposal on NLC
Currently the government owns 93.5 percent stake and a 5 percent divestment will help it raise about Rs 500 crore. It must be noted that Tamil Nadu trade unions have been opposing the miner's divestment.
The minister (J.Jayalalithaa) has also said that the quantum of divestment to be carried out is discussed and further discussion will be held on Monday. Among the issues to be decided is the pricing of the shares which are to be allotted to the various undertakings. Specified state public sector undertakings can acquire the stake provided they are declared qualified institutional buyers.
It may be recalled that employees of state-run NLC had struck work against the government's decision to divest around 5 percent stake in the company.
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