New Delhi, Aug 07: Government today informed Rajya Sabha that Oil India Ltd is not to be disinvested and its equity will not be reduced below 51 per cent in IOC, ONGC and Gail. "Oil India Ltd is also not to be disinvested," disinvestment minister Arun Shourie said in a written reply when asked if there was any change in the disinvestment policy specially with respect to profit-making PSUs.

While denying there was any change in policy, Shourie said all non-strategic central PSUs, whether profit making or loss making, are to be disinvested. "However, government has decided that in the case of IOC, ONGC and Gail, government shareholding would not be reduced below 51 per cent," he added.

On whether Jessop Company Ltd disinvestment has been cleared by the Calcutta High Court, he replied in the affirmative. "Jessop & Co Ltd Staff Association has filed a special leave petition before the Supreme Court. No stay has been granted by the Supreme Court," the minister added.

Bureau Report