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Home -> Finance -> Full Story
Decision on divestment in oil PSUs may be delayed
Saturday, November 30 2002 18:36 Hrs (IST)

New Delhi: A decision on divestment in oil public sector undertakings (PSUs) Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL) may be delayed further as Disinvestments Ministry is yet to get a formal note on any meeting in view of the December 7 deadline set by the Cabinet Committee on Disinvestment.

When asked about the progress on the front of sale of government equity, Disinvestment Minister Arun Shourie told reporters that this would depend on Prime Minister Atal Behari Vajpayee and Deputy Prime Minister L K Advani.

On the deadline of December 7 for taking a decision on sale of equity in Hindustan Petroleum and Bharat Petroleum, Shourie, who is slated to reply to a debate on divestment in the Rajya Sabha next week, said, "No note has come to me on this.

"Everybody says there must be a review or a course correction but no alternative has so far been worked out. One or two letters were sent to us. We have responded with our views to the PMO (Prime Minister's Office)," he added.

Following differences on the issue of mode of sales of equity in the two oil PSUs, the CCD had decided on September 7 that the matter would be discussed further and a decision on this was deferred for three months.

PTI





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