ONGC, IOC, GAIL, NTPC may lose PSU tag after equity dilution

New Delhi: Several of ‘maharatna’ and ‘navratna’ companies, including ONGC, IOC, GAIL and NTPC, could soon become independent board-run entities outside the scrutiny of CAG and CVC if the government implements a proposal to take out the PSU tag from some of the entities after its shareholding falls below the threshold 51% mark.

Government sources said that Finance Ministry is planning to approach NITI Aayog to prepare yet another list of PSUs where their holding could be brought down to below 51% and also point out which of these could shed the PSU tag and become independently board-run private companies.

For a company to remain a government-controlled public sector undertaking (PSU), either the Centre or the state government or both together should hold more than 51% stake in it.