The Hindu Business Line : Pant for divestment of oil PSUs on `selective basis'

THE Planning Commission Deputy Chairman, Mr K.C. Pant, has mooted restructuring and disinvestment of oil sector public sector undertakings on a ``selective basis''.

Addressing a conference on the oil sector, `Petrotech 2003' Mr Pant said ``the Tenth Five-Year Plan lays down the priorities for the oil and gas sector to further the development and consolidation of the oil and gas industry. Some of the import measures in this regard include restructuring and disinvestment of PSUs on a selective basis''.

Mr Pant's comments assume significance in the backdrop of the ongoing debate on the sell-off of oil PSUs. The debate has centred around the mode as well as the quantum of sale of equity.

Recently, the Government decided to undertake sale of Hindustan Petroleum Corporation Ltd (HPCL) to a strategic partner and a public offering in the case of Bharat Petroleum Corporation Ltd (BPCL).

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