The position paper on disinvestment, to be written by Defence Minister George Fernandes, has become the most eagerly awaited document at the Prime Minister's office.
The disinvestments of the two oil public sector units, Bharat Petroleum Corporation and Hindustan Petroleum Corporation, hinge on the paper, which is yet to be written.
With the three-month deadline on the disinvestment of the units coming to an end on December 7, there are signs that the issue has been put on hold in view of exigencies arising out of the defence minister's stand, the resignation of Justice K Venkataswamy who was heading the Tehelka probe and the Gujarat Assembly elections.
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In the past week, Fernandes is learnt to have overlooked moves at the highest level in the government to meet ministers concerned with the divestment HPCL and BPCL and resolve the tangle.
Initially, a meeting scheduled for November 19 was called off because of the defence minister's other engagements.
Senior government officials said another meeting on the disinvestment issue, schedule soon after the Cabinet Committee on Security meet on November 21, could not take place because Fernandes was busy again.
The government interprets this as the minister