No divestment in ONGC, Gail: Manmohan

By siliconindia staff writer   |   Thursday, 20 May 2004, 07:00 Hrs
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Mumbai, May 20: Prime Minister designate Manmohan Singh on Thursday said the public sector units like the Oil and Natural Gas Corporation (ONGC) and Gas Authority of India (Gail) would not be privatised.

"We are not pursuing privatisation as part of our ideological commitment. India needs a strong private sector as also a public sector," he told reporters in New Delhi.

"PSUs like Gail and ONGC will remain in the public sector. There is no intention to privatise them. Similarly there are nationalised banks which will remain in the public sector. These will not be privatised," he said.

He said: "We will not do anything which will throw a large pool of workers jobless."

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