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States » NorthPosted at: Sep 23 2020 5:40PM


Punjab cabinet approves disinvestment of PACL

Chandigarh, Sep 23 (UNI) Decks were cleared on Wednesday for disinvestment of Punjab Alkalies and Chemicals Limited (PACL), with Chief Minister Amarinder Singh-led Cabinet stamping its approval for the same.
Accepting the report of the Extraordinary General Meeting (EGM) of PACL, as well as the recommendations of the Empowered Group of Ministers set up on September 17, the Cabinet has given the go-ahead for disinvestment of 33.49 per cent equity shareholding of PACL, held by Punjab Government through Punjab State Industrial Development Corporation (PSIDC), according to an official spokesperson.
The EGM, after considering the detailed report of fresh Core Group of Officers on Disinvestment during its meeting on September 22, 2020, unanimously decided that Punjab government/PSIDC should go ahead with the disinvestment of shares of PACL in the manner as recommended by the Core Group.
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