(a) whether there is any proposal to divest Government equity in the State Trading Corporation of India;
(b) if so, whether any offers have been received by the Government in this regard;
(c) if so, the details thereof;
(d) whether STC has many duplicatory functions as MMTC; and
(e) if so, the details of steps proposed to be taken by the Government to rationalise the activities of STC?
THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY ( SHRI OMAR ABDULLAH )
(a): Yes. Sir.
(b): No, Sir.
(c): Does not arise.
(d) & ( e): Consequent upon the decanalisation of import and export of a number of items earlier canalised through STC and MMTC, both the Corporations have reoriented their trading strategies in a manner consistent with the liberalised economy and competitive environment in the international market. The two PSUs, therefore, in an endeavour to increase their turnover and profitability do undertake trading activities in a few common areas, which are more in the nature of supplementary to each other.