Thursday, November 17 2005 12:38 Hrs (IST) - World Time -

New Delhi: The Government has decided to divest its 15 per cent stake in Shipping Corporation Of India (SCI), Minister of Shipping T R Baalu said today (Nov17,2005).

SCI at present has 80.12 per cent government equity and with this proposal materialising, the Government equity will come down to around 65 per cent, he said.

The proposal has been put forth before the disinvestment department which would decide on the timing of the disinvestment, he said.

Out of 15 per cent to be divested, 10 per cent would be offered to employees, he said.