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CCD to meet after December 11

New Delhi Dec. 6. A meeting of the Cabinet Committee on Disinvestment (CCD) will be held soon to decide the quantum of the Hindustan Petroleum Corporation Limited (HPCL) equity to be put on the block for a strategic partner, top Disinvestment Ministry sources said today.

The meeting will also pave the way for seeking presentation from over a dozen bidders for becoming global advisers.

The Disinvestment Minister, Arun Shourie, today summoned top Ministry officials despite the Id holiday to take stock of the situation with the acceptance of a formula involving public offering of equity in the Bharat Petroleum Corporation Limited (BPCL) and privatisation of HPCL through the strategic sale route at Wednesday's informal meeting.

The Disinvestment Secretary, Pradeep Baijal, and three Joint Secretaries in the Ministry were closeted with Mr. Shourie for over an hour, presumably to decide on the contents of the statement the Minister is scheduled to make in Parliament on Monday.

Sources said the Ministry would seek a CCD meeting after December 11, the day when the Core Group of Secretaries on disinvestment is scheduled to meet to sort out pending issues, including those relating to Hindustan Cables and the newsprint PSU NEPA.

The Ministry has reportedly completed paperwork for at least 10 PSUs, including the Shipping Corporation of India, Balmer Lawrie, Engineers India Ltd and National Fertilisers Ltd for which a final nod is awaited.

UNI

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