Minister Ram Naik said no decision has been taken on Indian
Oil Corporation (IOC) disinvestment.
the Cabinet Committee on Disinvestment meeting, Disinvestment
Minister Arun Shourie had said that one of the options
being pursued was the restructuring of IOC in a manner
that certain ''strategic'' portions or divisions of the
corporation will be merged with HPCL and BPCL.
remaining part will be divided and sold one to
a strategic investor and the other to the public. This
option was mooted in the wake of the Supreme Court insisting
on the Centre seeking Parliamentary approval before
going ahead with the sale of HPCL and BPCL.
however, refused to get drawn into questions relating
to Shourie''s proposal on the splitting of IOC in that