No formal word yet on HPCL, BPCL selloff: Shourie

Disinvestment in HPCL and BPCL may have to wait a little more, as the disinvestment ministry is yet to get a formal note on any meeting in v...

Disinvestment in HPCL and BPCL may have to wait a little more, as the disinvestment 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 (CCD).

When asked about the progress on the privatisation front, Disinvestment Minister Arun Shourie told reporters here on Saturday that this would depend on Prime Minister Vajpayee and Deputy Prime Minister Advani.

On September 7, the CCD had deferred the sale of HPCL and BPCL for three months, owing to fierce opposition from, among others, Petroleum Minister Ram Naik, Defence Minister George Fernandes and HRD Murli Manohar Joshi. Shourie said he will be replying to a debate on disinvestment in the Rajya Sabha next week.

“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,” he said. On divestment in Shipping Corporation of India, he said, “shipping minister Ved Prakash Goyal wants the selloff process to move fast in this sector.”