GOVT TO DIVEST FULLY IN SOME PSUS

Article Abstract:

The Government of India has taken a decision to sell 100 percent stake in some public sector undertakings (PSUs). To begin with it has signed a memorandum of understanding to sell 100 percent stake in Andrew Yule belting division. It has also identified 12 PSUs for sale of over 74 percent stake. Bharat Heavy Pressure Vessels, Bharat Leather, Bharat Petroleum Corporation Limited, Bridge and Roof, Cement Corporation of India, HMT's tractor division are some of the other PSUs identified for divesting over 74 percent stake. The policy is based on the recommendations of the World Bank report, which states that fiscal imbalance is caused by the funding of loss-making PSUs. (rk)

Comment:

The Government of India has taken a decision to sell 100 percent stake in some public sector undertakings (PSUs).

United States, Diversified Companies, Asset sales & divestitures, Bharat Petroleum Corporation Ltd., Andrew Yule & Company Ltd, Bharat Heavy Pressure Vessels, Bharat Leather

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IRFC TIES UP 9-BILLION YEN LOAN AT LOW COST

Article Abstract:

The Indian Railway Finance Corporation (IRFC) is acquiring a 10- year, 8.85-billion Japanese yen loan at 3.35 percent interest. The loan amounts to Rs310 crore. The loan will be used to retire an existing yen loan at an interest rate of 5.2 percent taken in 1988 from the Export-Import Bank of Japan. This will save IRFC 170 basis points in interest costs per annum. The borrowing is guaranteed by the government of India and is for an exact period of nine years and eight months. (uh)

Receipt of funds, Railroads, Rail Transportation, India, Indian Railway Finance Corp.

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