NEW DELHI (Commodity Online): In a policy decision, the Central government has announced that it is not considering further disinvestment in aluminium major Nalco and Hindustan Copper. But the government said that operations of the copper producer are set to be revamped.    

Market watchers were expecting further divestment in the two public sector companies.    

According to mine minister B K Handique , the government does not see any reason for further disinvestment, particularly in Nalco.

Handique said the ministry would revamp the operations of Hindustan Copper.

The government has already divested about 13 per cent of its stake in aluminum producer Nalco and 0.41 per cent in the copper firm Hindustan Copper. Both, the companies are listed on the bourses.    

Finance secretary Ashok Chawla had said the government would offload equity in six to seven state-owned companies in the next 10-12 months.

Among the companies identified for stake sale, NHPC completed its initial public offering (IPO) earlier this month while Oil IndiaLimited (OIL) is slated to hit the market in September. The government is working on divestment proposals of leading PSUs like Coal India, MMTC, among others.

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