Rediff India Abroad
 Rediff India Abroad Home  |  All the sections

Search:



The Web

India Abroad




Newsletters
Sign up today!

Article Tools
Email this article
Top emailed links
Print this article
Contact the editors
Discuss this article

Home > Business > PTI > Report


SC ruling on selloff an `obstacle': Advani

October 09, 2003 14:34 IST

Deputy Prime Minister L K Advani on Thursday termed as an "obstacle" the Supreme Court ruling halting the privatisation of oil firms Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation Ltd and said the government will "manoeuvre" it to keep the momentum of divestment programme.

"It is an obstacle. But a Supreme Court's judgment is not a weakness of the government. It is the law of the land and therefore you have to manoeuvre. You have to either circumvent it or find a way out," he told Karan Thapar's Hardtalk programme on BBC World to be telecast on Friday.

The Supreme Court had last month asked the government to seek approval of the Parliament for sale of its equity in HPCL and BPCL.

Emphasising that the apex court ruling was not an end to the divestment policy, he said "this government is committed to economic reform" and several options are being examined.

"Though there have been difficulties created but we are examining the judgment fully. And even after that (SC judgment) the first meeting of the Cabinet Committee on Divestment undertook several measures," he said.

Advani hoped to see major divestments in the remaining part of the fiscal. Asked if the revenue target of Rs 13,200 crore (Rs 132 billion) from divestment proceeds in 2003-04 would be met, he replied, "I hope so."

"I can't guarantee it certainly because after all what is the law of the land? The Supreme Court pronounces the law of the land. And therefore we are face to face with the Supreme Court judgment, which we have to find a solution for," he said.



© Copyright 2006 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

Share your comments


 What do you think about the story?




Read what others have to say:


Number of User Comments: 1




Sub: SC goes by the statue. Parliament has freedom to overcome an obstacle like this !!!

There is no point finding adjectives like obstacle and so on. The fact is you lack strength. The strength that Rajiv demonstrated so inappropriately in ...


Posted by chanakya




Disclaimer


Advertisement






Copyright © 2006 Rediff.com India Limited. All Rights Reserved.