Legislative hitch to SCI divestment

Divestment can happen only after a nod from Parliament, feels the ministry of shipping

Any sale of government equity in Shipping Corporation of India (SCI) can happen only after a nod from Parliament, feels the ministry of shipping.

"If something is done by an Act of Parliament, it should be changed as per an Act of Parliament," a government official told Business Standard. SCI was created through legislation, through nationalisation and amalgamation of private companies. "We are, therefore, examining the legal aspect and only then would go ahead with the proposal (to divest in SCI)," said the official.

This is similar to the case of the previous NDA government's proposal to privatise Hindustan Petroleum Corporation and