The government on Thursday informed Rajya Sabha that Oil India Ltd is not to be divested and its equity will not be reduced below 51 per cent in Indian Oil Corporation, Oil and Natural Gas Corporation and Gas Authority of India.
"Oil India Ltd is also not to be divested," Divestment Minister Arun Shourie said in a written reply when asked if there was any change in the divestment policy specially with respect to profit-making PSUs.
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"However, the government has decided that in the case of IOC, ONGC and GAIL, government shareholding would not be reduced below 51 per cent," he added.
On whether Jessop Company Ltd divestment has been cleared by the Calcutta high court, he replied in the affirmative.
"Jessop & Co Ltd Staff Association has filed a Special Leave Petition before the Supreme Court. No stay has been granted by the Supreme Court," the minister added.
