To sell or not to sell Indo Burmah Petroleum

Vol 4, PW 12 (19 Jul 00) News in Brief

Expect a stormy meeting when India's Cabinet Committee on Disinvestment meets to discuss privatisation of Indo Burmah Petroleum (IBP) on 19th July.

IBP was short listed for 'in-principle' disinvestment during the last meeting on 23rd June. Since then sharp differences have emerged between oil minister Ram Naik, who wants to keep the petrol retailer under government control, and disinvestment minister Arun Jaitley, who wants to auction it to the highest bidder.

On 8th July a meeting of government officials in the 'Committee of Secretaries' deferred a decision on the appointment of a global adviser for the sale of IBP equity, pending resolution of the dispute.