New Delhi, Oct 05: The government on Saturday came in for sharp criticism from BJP ally Shiv Sena as also Opposition Congress and CPI(M) for its proposal to privatise Indian Oil Corporation, one of the biggest companies in the world. "We are totally opposed to the decision of the government in regard to privatisation of IOC or any branch thereof like marketing. We are opposed to sale of government equity in oil sector, which we consider strategic in nature," Congress spokesperson S Jaipal Reddy said.
The government had no right to divest its equity in IOC since Supreme Court had halted privatisation of HPCL and BPCL, he said, adding that Parliamentary approval should be taken before selling stake in IOC.
Shiv Sena leader and president of Bharatiya Kamgar Senaf S Mahdik threatened to launch protests to stall the proposed move to split IOC into retailing and refining companies and sell the former to a strategic partner.
Describing the proposal as shocking, CPI(M) said, "The destruction of such a valuable public asset is nothing but unbridled loot."
Bureau Report