SC verdict on oil PSUs not to affect privatisation: Ram Naik
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SC verdict on oil PSUs not to affect privatisation: Ram Naik

Petroleum Minister said the order on HPCL-BPCL divestment won't hit 'privatisation' in other sectors.

india Updated: Sep 17, 2003 20:11 IST

Petroleum Minister Ram Naik on Wednesday said the Supreme Court verdict on HPCL-BPCL disinvestment would not obstruct privatisation process in other sectors.

"There is no reason for obstructing the disinvestment process, a decision taken by the Government. However, any decision on these two companies would be taken after discussion in the cabinet," he told reporters at the BJP office, where he had an interaction with party workers.

Sticking to his view that the verdict of the apex court was a "historic one," Naik said this would not impact on the disinvestment process. "It would not be an obstruction to the decision to go ahead with disinvestment in other sectors."

Naik, who was opposed to disinvestment in oil majors HPCL and BPCL, declined to comment on his past position, saying "once the decision was taken at the meeting of the Cabinet Committee on Disinvestment on January 26, we all agreed to it."

First Published: Sep 17, 2003 19:36 IST