Tamil Nadu Chief Minister C. Joseph Vijay strongly opposes the Union Government’s decision to disinvest from NLC India Limited (NLC) through an Offer for Sale (OFS) of up to a 3% stake. He has written a letter to Prime Minister Narendra Modi urging him to reconsider the plan.
He emphasized that NLC is a vital national asset intrinsically linked to energy security, mineral development, and critical infrastructure, rather than just a listed company.
Vijay highlighted that the enterprise was built over decades on land acquired through Tamil Nadu’s administrative machinery, supported by the state’s people and rehabilitation efforts.
He argued that diluting public ownership sets a bad precedent, and that enterprises developed with the host state’s sustained support should remain firmly under effective government control.
The Union Government’s OFS includes a base offer of 2% and a 1% green-shoe option. While the Centre intends to broaden public shareholding, the Tamil Nadu government maintains that the Centre’s shareholding in NLC should not be reduced further.
News Edit KV Raman
