"No decision has been taken with respect to divestment in Shipping Corporation of India", S S Palanimanickam, Minister of State for Finance said in a written reply to Rajya Sabha.

He said no divestment had been made in any other profit-earning central PSU in 2005-06 till date.

Replying to another query, he said the government had decided in principle to list large profitable CPSEs on domestic stock exchanges and to selectively sell small portions of equity in listed, profitable CPSEs (other than the Navratnas).

The Divestment Development

"Since BHEL is a navratna, the government has decided to put in abeyance the process of divestment in BHEL.

The expert committee set up to prepare a draft for the revised and simplified Income Tax Laws is expected to submit its report by December 31, 2005 and the schedule for introducing the Bill will be decided after examination of the report by the government, he said to a query.

An amount of Rs 98,612 crore (Rs 986.12 billion) was outstanding as arrears of direct taxes at the end of 2004-05, he said.

Palanimanickam said there is no scheme to exempt salaried employees from filing Income Tax returns.