CCEA clears sale of govt’s 29.5% stake in Hindustan Zinc

The Cabinet Committee on Economic Affairs (CCEA) has cleared the government’s 29.5% stake sale in Hindustan Zinc Ltd (HZL) to fetch around Rs 38,000 crore to the exchequer.

This decision will strengthen the government’s disinvestment drive in the current fiscal year. The government has budgeted Rs. 65,000 crore from PSU disinvestment and strategic sale. In 2002, the government offloaded a 26% stake in HZL to Sterlite Opportunities and Ventures Ltd (SOVL).