BREAKING RECORDS BRIEF SCORES Sri Lanka 264/7 in 50 ovs (Mathews 113, Bumrah 3/37) lost to India 265/3 in 43.3 ovs (Rahul 111, Rohit 103) CHENNAI SUNDAY JULY 07, 2019 `6.00 PAGES 30 LATE CITY EDITION DISINVESTMENT NO PLAN TO GIVE UP CONTROL OVER PSUs: FM K’taka govt on edge as 12 MLAs quit Congress, JD(S) legislators go to Mumbai on chartered flights owned by BJP-supported MP J AYA N TA R O Y C H O W D H U R Y & A N U R A D H A S H U K L A @ New Delhi THE government will continue to control the public-sector units even if its holding goes down below 51%, Finance Minister Nirmala Sitharaman said on Saturday This will be done by . clubbing the shareholding of state-run banks, financial institutions like LIC and other PSUs with the government’s shareholding, she added. “If the government wants to encourage more retail sales and its shareholding goes below 51%, we will (still) continue to exercise control by clubbing shares held by other PSUs,” Sitharaman told The New Indian Express during an interaction with select media. She said the Cabinet Committee on Economic Affairs has already cleared a number of PSUs for disinvestment and she would follow up on these companies. The question of government control in PSUs arose after Sitharaman said in her maiden Budget speech that the government was considering to go below 51% on a case-to-case basis. Explaining how the clubbing of shareholding will be done, she said the Centre directly holds 65.64% stake in ONGC, the government’s most profitable cash cow. LIC holds 9.28% equity in the oil giant, while Indian Oil and Gas Authority have 7.69% and 2.45% stake, respectively Under the new plan, the govern. ment could easily sell 20% stake in ONGC, which at current prices could fetch over `40,400 crore. Some of the blue-chip PSUs where the government holds stake near the 51% mark and was feeling constrained from selling shares include Indian Oil Corporation (52.18%), Bharat Petroleum Corporation (53.29%), Gail India (52.64%) and Power P15 Grid Corporation (55.37%). Rohit Sharma became the first batsman to score five centuries in a single edition of a World Cup on Saturday | AP THE NUMBERS 224 13 Total strength of Assembly Number of resignations CURRENT STRENGTH (If resignations accepted) Congress: 70 (Incl. Speaker) JDS: 34+1 (BSP) Independent: 1 Coalition total: 106 BJP: 105 EXPRESS NEWS SERVICE @ Bengaluru THE Congress-JD(S) coalition government, headed by H D Kumaraswamy found itself totter, ing on Saturday with 12 MLAs from the two parties tendering their resignations at one go, taking the total to 13 legislators in a span of five days. In one stroke, the dissident MLAs dented the coalition’s majority in the Assembly, albeit subject to the acceptance of their resignations. If all 13 resignations are accepted, the coalition’s numbers fall to 106, just one more than the BJP’s Dissident MLAs at Raj Bhavan in B’luru after meeting the Guv on Saturday | PANDARINATH B tally in the Assembly. The development came as a shocker to the coalition partners as prominent leaders including the likes of Ramalinga Reddy and Byrathi Basavaraj lined up at Speaker Ramesh Kumar’s office at Vidhana Soudha. EXPRESS READ What started as a meeting of disgruntled MLAs in Bengaluru on Saturday morning, eventually became a massive blow to the coalition with the mass resignations and the MLAs’ quick visit to Raj Bhavan. They later went to Mumbai on chartered flights belonging to a company owned by a BJP-supported MP and became incommunicado by late evening. While the BJP claimed it had no role in the developments, party sources said state president B S Yeddyurappa and a BJP legislator from Bengaluru played key roles in the MLAs’ FULL STORY: P8 resignations. AYUSHMANN KHURRANA Size of cake matters, PM on $5 tn economy target AIADMK announces its Rajya Sabha picks Activist Mugilan spotted at Tirupati rly station Varanasi: PM Narendra Modi on Saturday said the critics of the Centre’s target to achieve a $5 trillion economy in five years were “professional pessimists”. “Size of the cake matters. Larger the cake, larger are the pieces that people will get,” he said | P11 Chennai: The AIADMK has picked former minister A Mohammed John (71) and N Chandrasekaran (59) to represent the party in the Rajya Sabha. The latter belongs to the Arunthathiyar community and is a confidant of CM Edappadi K Palaniswami | P5 Chennai: Close to five months after he went missing, activist Mugilan was spotted at the Tirupati Railway Station on Saturday. A senior TN police officer said he was being brought to Katpadi where a police team would pick him up | P3 Chameleon COOL WITH THIS ISSUE PLUS 12 PAGES South Africa 325/6 in 50 ovs (Du Plessis 100, van der Dussen 95) vs Australia 227/5 in 40 ovs (Warner 122) REPORT: P16, 17 ‘All-party meet to decide on EWS quota’ EXPRESS NEWS SERVICE @ Chennai THE State government’s stance on implementing the Economically Weaker Section quota under National Entrance & Eligibility Test (NEET) would be announced on Monday after an all-party meet, State Health minister C Vijaya Baskar said while releasing the rank list for MBBS and BDS admissions 2019-2020 in Chennai on Saturday . K Shruthi, the TN NEET topper, secured the first place in the State Rank list with a score of 685, while A K Aswin Raj with 677 marks was ranked second, and V Elamathi with 676 marks, third. Of the 31,353 candidates eligible for government quota seats this year, 1,461 are from government and aided schools. Meanwhile, the Madras High Court was informed on Friday that two Bills of the State, praying for exemption from NEET, had been rejectP4 ed by the President.
Express Publications (Madurai) Limited publishes the prestigious English language newspaper The New Indian Express from 21 centres in Tamil Nadu, Karnataka, Andhra Pradesh, Kerala and Orissa.
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