Govt to seek clarification from SC: divestment

The government on Friday night decided to approach the Supreme Court for clarification on certain aspects of the judgement halting the privatisation of two public sector oil units.

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	The Divestment Development

The decision was taken at a meeting of Cabinet Committee on Divestment, chaired by Prime Minister Atal Bihari Vajpayee in New Delhi on Friday.

The Supreme Court had on September 16 halted the divestment of Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation Ltd, and asked the Centre to get approval from Parliament before going ahead with the sell-off.

The government was considering six options, including enacting a legislation to empower itself to divest the two oil PSUs and enacting a legislation to divest all such PSUs set up through nationalisation/acquisition of assets.

Other options before the government are:

To enact a general legislation to divest a PSU as long as the procedure was as per the rules to be framed under this legislation;
To awaits any fresh case by a third party as a result of the Supreme Court judgement which would reopen the issue before a larger bench, and with this attempting a reversal of the verdict;
To reopen the issue by seeking a Presidential reference, the opinion of the court on the questions raised but left unanswered.
To seek a Constitutional review.