MINISTER OF DISINVESTMENT, MINISTER OF DEVELOPMENT OF NORTH EASTERN REGION AND MINISTER OF COMMERCE & INDUSTRY (SHRI ARUN SHOURIE)
(a), (b), (c ), (d) & (e) A statement is laid on the Table of the House.
Statement referred to in reply to parts (a), (b), (c ), (d) & (e) of the Lok Sabha Starred Question No. 112 for 26.11.2002 regarding disinvestment of NALCO by Shri Trilochan Kanungo and Shri Sanat Kumar Mandal
(a) & (b) The Government has broadly accepted the recommendations of the Disinvestment Commission for disinvestment of 30% equity of NALCO through market sale. In addition, the Government has decided to disinvest 29.15% equity to a strategic partner bringing the Government equity down to 26% after reserving upto 2% of the equity for NALCO employees.
(c ) & (d) There are no objections of the Administrative Department viz. the Department of Mines to the decision of the Government for disinvestment in NALCO taken on 27th September, 2001 and 11th July, 2002. The suggestions of the Department of Mines and other Departments related to implementation of the disinvestment process in NALCO, are discussed and taken into account through the forum of inter-ministerial meetings. The Advisors have been appointed. The process of due diligence by the Qualified Interested Parties (QIPs) has started from 10th October, 2002. Plant visits were to start from 28th October, 2002, but in the face of resistance faced by the Advisors and QIPs, plant visits had to be suspended and will commence after adequate security arrangements have been made.
(e) The amount of the dividend, interest and the Income Tax paid by NALCO during the last three years, as per the Public Enterprises Survey (2000-01), are as follows:
(Rs. In crore)
1998-99 1999-2000 2000-01
Dividend 77.32 128.87 257.72
Interest 38.06 63.43 97.56
Income tax 88.97 169.47 187.54
