The decks have been cleared for the divestment of the loss making public sector Madras Fertiliser Ltd (MFL), as the National Iranian Oil Company (NIOC) has given a no-objection certificate (NoC) to the government for the selloff.
NIOC has around a 25.44 per cent stake in MFL. As per official sources, the government will now speed up the divestment procedure of the Rs 1,230 crore MFL which may be complete by the year end.