New Delhi, Aug 24: In what could be a major setback to the disinvestment process, Fertilisers Minister S S Dhindsa today said he would seek Prime Minister's intervention for a two-year deferment of privatisation of National Fertiliser for which Disinvestment Ministry is about to seek financial bids. "I will put forth the ministry's proposal before the Prime Minister," Dhindsa told adding his ministry was having a rethink on NFL disinvestment in order to assess the impact of new pricing policy for fertilisers on the sector.
In case the government decides to heed to Dhindsa's request, it would be the second PSU where disinvestment would be deferred in the last two months.
Last month Prime Minister Atal Bihari Vajpayee had announced that Nalco disinvestment was not being pursued for the time being.
Dhindsa said under new pricing policy for fertilisers the sector will be free of all controls in next two years and as a result impact of international market on India must be studied
Since NFL is India's leading producer of fertilisers and accounts for around 15 per cent of the country's production, its privatisation should be put off for one to two years, he added.
"Once the assessment of India's fertiliser availability and NFL's role thereof has been made vis-a-vis new pricing policy, we can then take up the issue of the PSU's disinvestment," the Minister said.
He said no decision in this regard has been taken, "It is just a proposal and I will take up the matter with the Prime Minister."
Bureau Report