Cabinet to consider ITDC, STC disinvestment

Stake sale of the two firms is to comply with the Sebi minimum public shareholding norm

The Cabinet Committee on Economic Affairs (CCEA) is likely to consider the proposals to sell five per cent stake in India Tourism Development Corporation (ITDC) and little over one per cent in State Trading Corporation (STC) in its Thursday meeting.

The stake sale of the two firms is to comply with the Securities and Exchange Board of India's (Sebi) minimum public shareholding norm.

According to officials in the know, another proposal to set up a new regulator for the aviation sector, the Civil Aviation Authority of India (CAAI) , will be discussed in the meeting of the Union Cabinet, also slated for Thursday.

A proposal from the department of commerce to consider a modified version of the Industrial Infrastructure Upgradation Scheme, launched in 2003 and seeking to improve competitiveness of Indian industry by providing quality infrastructure in industrial clusters through the public-private partnership mode, could also be considered.