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Will Hindustan Zinc’s sale affect dues recovery?

Jaipur: While the Central government will sell its 29.54 percent stake in Hindustan Zinc which is estimated at around 37 thousand crores. In 2002 also, the Vajpayee government sold 26 percent stake to Vedanta Group. Meanwhile, Rajasthan’s Mines Department owes crores of rupees to Hindustan Zinc and the dues of royalty are around Rs 803 crore and the amount of interest on the outstanding royalty is about 551 crores. DMFT owes about Rs 307 crore and the amount of interest on DMFT dues is about Rs 194 crore.

Moreover, NMAET owes around Rs 35 crore and over 33 crore as interest in arrears on dues of NMAET.

Hindustan Zinc owes about Rs 1925 crore from 2008 to 2019 and therefore the big question is what will be the effect of the sale on the recovery of dues of the state?

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