Government approves divestment in power firms

NEW DELHI, Oct 19: The Cabinet Committee on Economic Affairs (CCEA) has approved a proposal to divest stake in state-run utilities NTPC Ltd and Satluj Jal Vidyut Nigam Ltd (SJVN). The government will offload 5 per cent of its equity in NTPC and 10 per cent in SJVN, Commerce Minister Anand Sharma said here on Monday.

At the present valuation, the government will be able to raise over Rs 8,800 crore by divesting 5 per cent stake in NTPC, which generates over 30,000 MW of power. The government’s shareholding in the company would come down to 84.5 per cent after the divestment, Sharma told reporters. "After disinvestment it is expected that the market capitalisation of NTPC would be higher and it would help the company to raise resources in the international market on competitive terms," he said.

Spillover effect of Pak events can’t be ruled out: India

NEW DELHI, Oct 19: Not ruling out the possibility of spillover effect of the "very serious" situation in Pakistan, India today said its defence forces are prepared to meet any challenge and expressed confidence that any threat, including that from Taliban, would be neutralized. "The situation in Pakistan is very serious and terrorism is spreading," Defence Minister AK Antony told reporters here when asked to comment on developments in the neighbouring country and Taliban threat to attack India. Asked whether the Taliban threat was a cause for concern for India, he said, "We are always prepared to meet any challenge to our territorial integrity and national security from any quarter. Our security forces are keeping eternal vigilance". Army Chief Gen Deepak Kapoor did not rule out the possibility of spillover effect of developments in Pakistan. (PTI)