'No hasty decision on oil sector divestment'

The government on Monday assured the Rajya Sabha that divestment in oil sector companies will be carried out only after detailed discussions with ministries and cautioned that public sector oil companies would have to be prepared for competition before administered price mechanism is completely dispensed with in March 2002.

''We will be discussing it (divestment in oil PSU companies) with the respective ministries before we come out with a joint paper for divestment," Divestment Minister Arun Shourie said while replying to supplementaries during 'question hour'.

Shiv Sena member Sanjay Nirupam wanted to know whether the Government had held up divestment in certain areas due to staunch opposition from respective ministers.

"Is it true that the government decided to go ahead with Air-India divestment due to absence of stiff resistance from Civil Aviation Minister Sharad Yadav and it held up divestment of heavy industry and oil sector units due to stout opposition by Manohar Joshi and Ram Naik?" Nirupam asked.

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