Govt working on proposal to divest stake in CIL: Jaiswal

Coal Minister Sriprakash Jaiswal today said his ministry is working on proposal to disinvest 5-10 per cent stake in navratna PSU Coal India.

"We are working on a proposal to disinvest 5-10 per cent stake in Coal India. I have informed the Finance Minister about it but we have not given it in writing to them (FM)," Jaiswal told reporters here.

He also said that the ministry has sought reduction in custom duty in heavy mining equipment.

The minister also said that Coal India is looking at offering shares to people whose land is acquired for mining purposes. Giving equities to company employees is also being considered, he added.