The disinvestment ministry has drawn up plans to complete the divestment in Bharat Petroleum Corporation Ltd (BPCL) by March 10, 2003, and in Hindustan Petroleum Corporation Ltd (HPCL) by April 22, 2003.
According to the schedule circulated among members of the Cabinet Committee on Disinvestment for approval, the appointment of advisers for the BPCL and HPCL selloffs will be completed by August 10.
Petroleum minister Ram Naik, who is pressing for an initial public offer for BPCL before its disinvestment, has asked disinvestment minister Arun Shourie to put the schedule on hold till his ministry makes a presentation to Prime Minister Atal Bihari Vajpayee in this regard.
Naik is also planning to make a similar presentation to the members of the Cabinet Committee on Disinvestment before it takes a decision on the two public sector oil marketing companies.
However, undeterred by Naik
