Govt may exempt ICVL from PSU norms

The government may exempt the Rs 3,500-crore International Coal Ventures Ltd, promoted by five major state-owned PSUs as a specialised body to acquire coal mines abroad, from following some of restrictive PSU guidelines to enhance its operational efficiency. Although ICVL, which is technically an SPV, will be a government-controlled company, the steel ministry is yet to take a call on the extent to which it will be required to follow the guidelines of the Department of Public Enterprises.