CCD meet on Friday

The Cabinet Committee on Disinvestment CCD is scheduled to meet on Friday to take up divestment of Hindustan Shipyard, Cochin Shipyard, Engineers India, Hindustan Organic Chemicals and Balmer Lawrie. There is speculation that the issue of the exact quantum of disinvestment of HPCL and BPCL may also come up at the meeting. When contacted by The Indian Express, Disinvestment Minister Arun Shourie said that 8216;I really don8217;t know and it all depends on the Prime Minister8217;s availability8217;.

The government has mobilised mere Rs 3,000 crore by way of divestment during the first nine months of the current financial year, he said, adding that the delay of three months over the BPCL and HPCL sell-off had slowed the divestment process. When asked whether the government would be able to reach the target of Rs 12,000 crore from disinvestment in the current fiscal year, Shourie sounded less hopeful, but added that with three more months to go in the current year, efforts were on to meet the target.

Shourie had earlier said that AG8217;s opinion on the legality of privatisation in companies like HPCL and BPCL acquired through acts of parliament, would be sought.