Mumbai, Oct 11: The controversy over Union minister for disinvestment Arun Shourie's move for part disinvestment of Indian Oil Corporation (IOC) has taken a new turn with Union petroleum minister Ram Naik insisting that his ministry has not received a formal proposal in this regard. Naik, who, unlike Shourie, is opposed to disinvestment of profit-making PSUs like IOC and Hindustan Petroleum Corporation Ltd (HPCL), told newspersons here on Friday that his ministry has also received no proposal to use part holdings of IOC for acquiring stakes in Bharat Petroleum Corporation Limited (BPCL) or HPCL.
Naik said he had only learnt from newspaper reports about a proposal for part disinvestment of IOC. "I have received no such proposal," he reiterated.

He recalled that it was the Union government's decision to retain IOC, Oil and Natural Gas Commission (ONGC) and Gas Authority of India Limited (GAIL) in the public sector. That decision has not been changed, he emphasised.
Disclosing that just three days remained for filing a review-cum-clarificatory petition in the supreme court in connection with its order striking down the disinvestment plan in HPCL and BPCL, Naik said moving such a petition was one of the options considered by the Union cabinet. The SC had ruled that since the two PSUs were set up by an act of Parliament, the latter alone was qualified to decide on their disinvestment. Bureau Report