New Delhi: A Parliamentary Committee has asked the government not to divest its stake in Engineers India Ltd (EIL) as the profit making mini-ratna has a wealth of data on all major oil refineries that could be commercially exploited by private enterprises.

"It (EIL) has wealth of data of all major refineries, petrochemical plants, technology used, layout plans etc, which might be exploited, commercially by a private enterprise," the Parliamentary standing committee on petroleum said in its latest report.

The committee, headed by Mulayam Singh Yadav, "desires that such a pioneering enterprise should not be disinvested and should continue to be in public sector".

The government has decided to sell 51 per cent shares of EIL to a strategic investor.

"EIL is the most diversified and leading design and engineering company in the field of petroleum, refineries, petrochemicals, oil and gas processing, off-shore structures and platforms, fertilisers, metallurgy and power," the committee said.

On queries of the committee, the Ministry of Petroleum and Natural Gas submitted that, "The government of India has formulated a comprehensive policy. Our department is only implementing that policy and the government is going for disinvestment under that policy only."

PTI