· Sushma Nath is new finance secretary
· Jet Airways to repay Rs. 1,000 cr. each fiscal
· Nalco may invest in Hindustan Copper
Sushma Nath is new finance secretary
With barely a month for Budget 201112, the government on Thursday appointed Sushma Nath as finance secretary and gave her an extension for two months till 31 May.
Nath, now the expenditure secretary, succeeds Ashok Chawla who retired on 31 January. She will continue to hold the charge of expenditure secretary as well.
Jet Airways to repay Rs. 1,000 cr. each fiscal
Jet Airways (India) Ltd Mumbai: Jet Airways (India) Ltd plans to repay around `1,000 crore of debt each fiscal and is also looking to prepay some of its highcost rupee debt, officials said on Thursday.
The carrier is looking to prepay its high cost debt amounting to between `2,000 crore and `3,000 crore, “at the earliest“, Jet officials said. Jet Airways has a total debt of around `13,000 crore.
Nalco may invest in Hindustan Copper
The country's second largest aluminium producer National Alumini um Company Ltd (Nalco) may invest about `700 crore for picking up stake in two mines of staterun Hindustan Copper Ltd and a detailed framework on strategic alliance is likely next week.
The development comes ahead of the copper miner's share sale, which would see divestment of 10% paidup equity capital out of the government's share holding in Hindustan Copper along with issue of fresh equity of an equal size by the firm. “Nalco's due diligence for buy ing stakes in Hindustan Copper's mines at Ghatshila in Jharkhand and Malan jkhand copper project in Madhya Pradesh is complete. Top officials of both the companies will be meeting next week over the issue”, a mines ministry official privy to the development said.
