PFC-REC Merger Moves Closer as Cabinet Review Nears
The Finance Ministry is reviewing the proposed merger before it goes to the Union Cabinet for approval. The government is considering preference shares to retain a 51% stake, Power Secretary Pankaj Agarwal told Moneycontrol.
The proposed merger of Power Finance Corporation (PFC) and REC Ltd is moving closer to the Union Cabinet, with the Finance Ministry reviewing the plan before it is submitted for approval, Power Secretary Pankaj Agarwal told Moneycontrol.The government is considering issuing preference shares to mai…