Consultants interviewed for IBP mandate

Vol 4, PW 21 (22 Nov 00) News in Brief

Indian authorities have begun interviewing consultants to oversee its partial disinvestment in IBP Petroleum.

Interviews began this week from Monday, 20th November. In October, the government set up a panel to oversee the sale of the government's 33.59% stake in IBP.

Members of the panel include: PK Baijal, secretary in the Department of Disinvestment; SN Mathur, chairman and managing director of IBP; AK Sinha finance director of IBP and Ravi Saxena, joint secretary in the oil ministry. Indian Oil is lobbying the government to abandon the "competitive open bidding" option in favour of a "sealed bid" option.