CCD may meet before Feb 17

Divestment Minister Arun Shourie said on Tuesday his ministry would push for a meeting of the Cabinet panel of privatisation before February 17, the day the Budget session of Parliament is scheduled to begin.

"We have finalised certain things and we are trying for a meeting," Shourie told reporters when asked whether the Cabinet panel on privatisation would meet before February 17.

Divestment ministry officials said stake sales in at least three companies--Shipping Corporation of India, Hindustan Copper and Engineers India--would be finalised at the next meeting of the Cabinet panel.

Shourie said any strike by oil sector workers to oppose the stake sale in cash-rich oil firms Hindustan Petroleum Corporation Limited and Bharat Petroleum Corporation Limited would hurt the valuation of these companies and reduce the benefit to employees.

The government has promised to sell five per cent of its stake in the two oil companies to employees at a third of the ruling market price.