No decision has been taken on IOC disinvestment, says Naik

New Delhi: Petroleum Minister Ram Naik said no decision has been taken on Indian Oil Corporation (IOC) disinvestment.

Following 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.

The 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.

Naik, however, refused to get drawn into questions relating to Shourie''s proposal on the splitting of IOC in that manner.