The Hindu Business Line : CCD defers decision on HPCL, BPCL

THE Cabinet Committee on Disinvestment (CCD) on Friday deferred finalising the modalities for disinvestment in HPCL and BPCL in the absence of an opinion from Attorney-General.

"Whenever the opinion of the Attorney-General is obtained, we will discuss the issue again," the Disinvestment Minister, Mr Arun Shourie, said at a briefing here.

The Disinvestment Ministry had sought the Attorney-General's opinion on whether the disinvestment of the two oil PSUs would require an amendment to the Acts through which these entities were nationalised.

The CCD also decided to start the process of disinvestment afresh in National Fertilisers Ltd, Madras Fertilisers Ltd and FACT.

While doing so, fertiliser co-operative majors such as Iffco and Kribhco would be allowed to participate in the bidding process as a special case, Mr Shourie said.

In the case of Balmer- Lawrie, the CCD has decided to proceed with the disinvestment process on a "as is where is basis".

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