New Delhi: A panel of ministers on disinvestment headed by Finance Minister P Chidambaram will meet on Wednesday to decide the base price for the sale of stake of Metals and Minerals Trading Corporation of India. The sale of 9.33 per cent of MMTC's stake is expected to begin by June 13.
The government expects to raise Rs 250-300 crore through the stake sale and the base or floor price would be "nowhere near the current market price".
The government currently holds 99.33 per cent stake in MMTC and the stake sale would help the company to meet Sebi's minimum public shareholding norm.
The stake sale, which was originally slated to take place in March, was then deferred on valuation concerns....
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10:48 AM, Jun 12, 2013
New Delhi: The Empowered Group of Ministers on Drought, headed by Agriculture Minister Sharad Pawar, on Wednesday approved an additional assistance of Rs 256 crore for rejuvenation of orchards in drought-hit Maharasthra. However, the decision on extension of duty-free import of oilcakes to boost fodder supply was left to the Finance Ministry, which will take a call after assessing the demand and supply situation. "The proposal on providing additional assistance...
12:28 PM, May 08, 2013
An inter-ministerial panel on Wednesday cleared a 10.82 per cent stake sale in steel major SAIL and decided that the issue will hit the markets on Friday, a top Finance Ministry official said on Wednesday. ...
12:10 PM, Mar 20, 2013
An Empowered Group of Ministers (EGoM) on drought headed by Agriculture Minister Sharad Pawar on Wednesday approved Rs 1,207 crore relief package to Maharashtra. Finance Minister P Chidambaram, Agriculture Minister Sharad Pawar, Home Minister Sushil Kumar Shinde and Planning Commission Chairman Montek Singh Ahluwalia were at the meeting. ...
11:27 AM, Mar 13, 2013
An inter-ministerial panel on Tuesday deferred government's 9.33 per cent stake sale in the state-owned trading company MMTC on concerns over valuation of the company's equity. ...
02:25 PM, Mar 12, 2013
The government will sell 9.5 per cent stake in country's largest power producer NTPC on Thursday at a likely price of Rs 145 per share, nearly seven per cent discount to the current market price. ...
08:22 AM, Feb 07, 2013
The government on January 17 approved a 50 per cent reduction in the reserve price of spectrum used by CDMA mobile operators. "The Cabinet has approved 50 per cent reduction in CDMA spectrum (reserve) price which was fixed earlier at Rs 18,200 crore (pan India 5MHz)," Telecom Minister Kapil Sibal said. ...
01:52 PM, Jan 17, 2013
An Empowered Group of Ministers (EGoM) has recommended a cut of up to 50 per cent in the auction reserve price for airwaves used by phone carriers operating on the CDMA platform, raising the odds for the local unit of Russia's Sistema to continue operating in the world's second-biggest mobile phone market. ...
07:03 PM, Jan 07, 2013
The second round of telecom spectrum auction is likely to be held on March 11 after the Cabinet decides on the reserve price, which may be reduced by up to 50 per cent, for CDMA-band radiowaves. ...
01:13 PM, Jan 07, 2013
The government is likely to discuss on Thursday recommendations made by the Empowered Group of Ministers (EGoM) on pricing of spectrum that was unsold in the recently concluded auction. The matter has been listed for discussion in the Cabinet meeting slated for Thursday evening, official sources said. ...
01:21 AM, Dec 13, 2012
The Empowered Group of Ministers (EGoM) headed by Finance Minister P Chidambaram has decided to hold fresh auctions for 2G spectrum by March 31, 2013. The EGoM has also decided to lower the base price by 30 per cent for 2G spectrum in four circles that remained unsold in last auction, a suggestion that could fetch Rs 6,200 crore to exchequer. ...
06:29 AM, Dec 08, 2012
The Empowered Group of Ministers on telecom, headed by Finance Minister P Chidambaram, will meet on November 29 in the backdrop of lukewarm response to recently concluded 2G spectrum auction. "Its (EGoM meeting) happening on Thursday," Telecom Minister Kapil Sibal told reporters on sidelines of meeting with stakeholders to discuss proposal for World Conference on International Telecommunications starting December 3 in Dubai. ...
02:59 AM, Nov 28, 2012
New Delhi: The Empowered Group of Ministers (EGoM) on the 2G auction headed by Union Telecom Minister Kapil Sibal met on Thursday and decided to go for partial refarming, wherein operators will be allowed to retain 2.5 MHz through an administrative allotment by paying an auction-determined price. The EGoM also decided that those telcos with 5 Mhz spectrum would need to vacate space. The telecom companies, GSM operators like Bharti...
05:55 PM, Nov 01, 2012
New Delhi: The Empowered Group of Ministers (EGoM) is likely to discuss the contentious issue of spectrum refarming on November 1, sources in Department of Telecom (DoT) said on Tuesday. Refarming calls for existing operators like Bharti Airtel, Vodafone and Idea Cellular to give up all their spectrum/airwave holdings in more-efficient 900 mega hertz band when their permits come up for renewal starting November, 2014. The operators will be given...
01:54 AM, Oct 31, 2012
New Delhi: An Empowered Group of Ministers (EGoM) on Monday decided to refund licence fee of companies whose telecom licences were cancelled earlier this year but had no criminal charge against them. The EGoM, headed by Finance Minister P Chidambaram, also decided to recommend to the Cabinet a one-time fee on existing telecom operators for spectrum they hold beyond 4.4 MHz. The Supreme Court in February had cancelled 122 licences...
08:50 AM, Oct 09, 2012
New Delhi: An Empowered Group of Ministers on Monday decided to refund licence fee of companies whose telecom licences stand cancelled but have no criminal charge against them. The EGoM, headed by Finance Minister P Chidambaram, also decided to recommend to the Cabinet a one-time fee on existing telecom operators for spectrum they hold beyond 4.4 MHz. The Supreme Court in February had cancelled 122 licences granted during former Telecom...
10:42 PM, Oct 08, 2012
New Delhi: The Empowered Group of Ministers led by Finance Minister P Chidambaram will be meeting on Monday on the Spectrum issue. It will be to taking a decision on charging telecom service providers for excess spectrum beyond contractual obligations. The EGOM in its last meeting on October 3 could not decide on the issue of one-time spectrum for existing telecom operators as the legal opinion from the Attorney General...
06:31 AM, Oct 08, 2012
New Delhi: The Department of Telecommunications will move the Supreme Court to push the deadline for 2G auction to November. The Supreme Court had earlier set an August 31 deadline. The decision to move court was taken in the EGoM headed by Finance Minister P Chidambaram on Tuesday. "Auctioneer has given us schedule...we will approach the Supreme Court to place before them the fact what government has done. Also, place...
01:28 PM, Aug 07, 2012
New Delhi: The Cabinet will meet on Friday to discuss the reserve price and usage charges of the telecom spectrum to be auctioned, in line with a Supreme Court order. In February the Supreme Court had cancelled 122 licences issued by then Telecom Minister A Raja in 2008 and asked the government to conduct fresh auctions. The Empowered Group of Ministers (EGoM), headed by P Chidambaram (who has now taken...
08:51 AM, Aug 03, 2012
New Delhi: Defence Minister AK Antony will head the reconstituted high-powered ministerial panel which will decide if price of natural gas produced by Reliance Industries from KG-D6 fields can be revised before 2014. "The Empowered Group of Ministers (EGoM) has been reconstituted. It will now be headed by Defence Minister," a top Oil Ministry official said. The reconstitution of EGoM was necessitated as its previous head Pranab Mukherjee resigned as...
01:02 AM, Jul 25, 2012
