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HPCL, BPCL disinvestment on course
By siliconindia
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Wednesday, 16 October 2002, 19:30 IST
NEW DELHI: The Indian government Tuesday said that the controversial disinvestment in HPCL and BPCL would be completed by this fiscal-end.
''I don't think there are any problems now related with the disinvestment in the oil majors.''
''Our government is confident that the whole process would be completed by the end of this fiscal,'' Rajiv Pratap Rudy, minister of state for commerce and industry, said after the inauguration of MMTC's 'Festival of Gold 2002'.
Earlier the oil PSUs were thought to be of strategic importance from the national security point of view. ''But now such apprehensions have been cleared and the disinvestment process is on the right track,'' he said.
Rudy declined to comment over the manner in which disinvestment would be carried out in the two oil PSUs.
''I can't say right now whether it will be through the Initial Public Offer (IPO) route or through strategic sale.'' ''These are complex issues and steps to arrive at a consensus are being taken,'' he said