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CCD meet on VSNL privatisation called off at last minute
The scheduled meeting of the Cabinet Committee on Disinvestment (CCD) was called off on Saturday at the last minute without any official explanation.
The scheduled meeting of the Cabinet Committee on Disinvestment (CCD) was called off on Saturday at the last minute without any official explanation.
The meeting was being convened to consider privatisation of Videsh Sanchar Nigam Ltd (VSNL) but failure to resolve the differences between ministries of communication and disinvestment has led to deferment of the meeting, sources said.
When contacted a spokesman of the disinvestment ministry confirmed cancellation of the meeting but did not give any reasons for the same.
He also did not give the new date for the meeting.
Sources, however, said a meeting would be scheduled early next month after the communication and disinvestment ministries reached some broad understanding on privatisation of the telecom PSU.
Asked about the proposal for selling government stake in joint venture Maruti Udyog Ltd (MUL), sources said that MUL disinvestment proposal was not on CCD's agenda for on Saturday's meeting.
It is believed that heavy industry ministry wanted some more time to finalise its views on divesting government equity with Heavy Industry Minister Manohar Joshi reportedly saying on Friday that Indian bidders should be given preference in the auto company, which has about 55 per cent share in the country's expanding car market.
Neither Joshi nor Disinvestment Minister Arun Shourie was available for comments.
When contacted a spokesman of the disinvestment ministry confirmed cancellation of the meeting but did not give any reasons for the same.
He also did not give the new date for the meeting.
Sources, however, said a meeting would be scheduled early next month after the communication and disinvestment ministries reached some broad understanding on privatisation of the telecom PSU.
Asked about the proposal for selling government stake in joint venture Maruti Udyog Ltd (MUL), sources said that MUL disinvestment proposal was not on CCD's agenda for on Saturday's meeting.
It is believed that heavy industry ministry wanted some more time to finalise its views on divesting government equity with Heavy Industry Minister Manohar Joshi reportedly saying on Friday that Indian bidders should be given preference in the auto company, which has about 55 per cent share in the country's expanding car market.
Neither Joshi nor Disinvestment Minister Arun Shourie was available for comments.
Bureau Report