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HPCL, BPCL & IBP maybe put under the hammer - Views on News from Equitymaster
 
 
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  • Nov 20, 1999

    HPCL, BPCL & IBP maybe put under the hammer

    According to newspaper reports, the ministry of finance is toying with the idea of selling significant stakes in various oil public sector units on the lines of a strategic sale. This indicates that the government would opt for an open bidding process.

    The open bidding process has its share of pros and cons. However, the importance, from the point of view of Indian politics, is that the bidding is open, implying visible to all, and hence the prospects of stalling the process on counts of nepotism are minimised. This will hasten the disinvestment process.

    A faster process would have an immediate impact of the parties concerned as the cash realisation will be much faster (the government will benefit) and so will the transition of management (the company in which the stake is being divested will benefit).

    The talk of disinvestment via the open bidding route has been talked about earlier but the government has yet to take a decision. However, with a looming fiscal deficit the government may be compelled to give a more serious thought to this method of disinvestment.

     

     

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