(a) whether the Union Government have taken any
initiative to save Fertilizers & Chemicals Travancore
Ltd. (FACT) from disinvestment;
(b) is so, the details thereof;
(c) whether the Government have any proposal to hand
over FACT to IFFCO; and
(d) if so, the details thereof?
THE MINISTER OF STATE IN THE MINISTRY OF CHEMICALS & FERTILIZERS (DR. CHHATTRA PAL SINGH)
(a) & (b): As per policy of the Government to bring down its
equity in the non-strategic PSUs to 26% or lower, it has been
decided to disinvest 51% out of the GOI held equity of 97.38%
in the Fertilizers And Chemicals Travancore Limited (FACT).
(c) and (d): The handing over of FACT to IFFCO, who has
been allowed to participate in the disinvestment process for
fertilizer companies, is dependent on its successful bidding.