Friday, July 29 2005 17:41 Hrs (IST) - World Time -

New Delhi: The government has not taken any decision on disinvestment of National Aluminum Company (NALCO), the Lok Sabha was informed today (July 29, 2005).

In a written reply to a query, Minister of State for Coal and Mines, Dasari Narayana said, as a follow up to the government in principle approval for sale of minority shareholding in profitable central PSUs subject to retaining at least 51% shares and management control, the Department of Disinvestment had sent a proposal for partial sale of shares of NALCO and had sought the comments of the Mines Ministry.

Accordingly, the Ministry sent its comments to the department. No final decision has been taken in this regard, he said.

In reply to another query, Rao said according to rough estimates the consumption of gold in India is about 800 tones per annum.

He said, the Hutti Gold Mines Company Limited (HGML), a Karnataka government undertaking, is the only company in the country, which has been entrusted with the task of gold production.

HGML has informed that it has taken steps to boost gold production like modernization of mines and mills, deepening of shafts, exploratory diamond drilling, opening new satellite mines and searching new gold bearing areas under the reconnaissance permit licenses.