Govt clarifies on the status of strategic disinvestment of MMTC

New Delhi: The government has not taken any decision on strategic disinvestment of MMTC, Parliament was informed on Wednesday. In a written reply to the Lok Sabha, Minister of State for Commerce and Industry Anupriya Patel said the state-run trading firm has registered a profit of Rs 1,076.07 crore in 2022-23 against a loss of Rs 241.93 crore in 2021-22.

"Currently, the accounts for 2023-24 are under finalisation," she said.

The government currently holds 99.33 per cent stake in MMTC.

"The Government has not taken any decision on strategic disinvestment of
MMTC," she added.

In September 2022, the commerce ministry had decided to denotify three PSUs — MMTC, STC and PEC — as canalising or nominated agencies for imports and exports of goods like high-grade iron ore and precious metals. It was then said that the government is considering their closure.

"It is also relevant to mention here that keeping in view the guidelines of Department of Public Enterprises on New Enterprise Policy for CPSEs in the non-strategic sector, the proposal for closure of MMTC, STC and PEC is under consideration," an office memorandum of the ministry had mentioned.

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