New Delhi, Oct 10: Disinvestment Minister Arun Shourie today said the recent Supreme Court verdict halting disinvestment in two oil PSUs had created an "uncertainty in the minds of investors" but emphasised that government would proceed with its agenda as decided by the cabinet. "I learnt that at least 120 people were involved in the due-diligence process of Hindustan Petroleum Corporation (HPCL)... Overnight you tell them to pack up and go, that will create a great degree of uncertainty," he said on the sidelines of a stamp release function.
Shourie said the government was pursuing the three options mandated by the Cabinet Committee on Disinvestment in its last week's meeting including exploring legislative option, legal option and executive option of disinvesting the marketing arm of Indian Oil Corporation (IOC). "We are pursuing all the three options simultaneously," he added.
Shourie, however regretted that after two years of uncertainty, the disinvestment in oil PSUs was cleared but at the end the process was derailed. Shourie said work on disinvestment in various PSUs on the block, was continuing.
"Even now, work in shipping and fertiliser (sectors) is being done," he pointed out. Bureau Report