Financial Daily from THE HINDU group of publications
Thursday, Aug 12, 2004
Financial Daily from THE HINDU group of publications Thursday, Aug 12, 2004 |
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Petroleum Industry & Economy - Petroleum Meet today to discuss oil PSU cross-holdings Our Bureau
New Delhi , Aug 11 THE Petroleum Ministry is set to review its informal ban on the unlocking of cross-holdings of Indian Oil Corporation, Oil and Natural Gas Corporation and GAIL (India) Ltd in each other. The three public sector oil majors will be making a presentation on Thursday to the Government on the issue. During the meeting, various options to deal with the cross-holding will be discussed, officials said. The earlier Government had decided to place in abeyance a decision to dissolve the cross holding since GAIL and ONGC were then gearing to go into the market for a minority 10 per cent stake sale.
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