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No objection to Balmer Lawrie sale, says Naik

New Delhi, Sept. 18 (PTI): Petroleum minister Ram Naik today said he had no reservations on privatisation of Engineers India Ltd (EIL) and Balmer Lawrie and he had cleared their strategic sale six months ago.

“I had cleared sale of EIL and Balmer Lawrie six months ago. EIL is in final stages of disinvestment and there is no question of any difference of opinion on mode of disinvestment,” Naik told reporters here.

Naik, who had vehemently opposed strategic sale of government equity in refining and marketing companies Bharat Petroleum and Hindustan Petroleum, said the government would get out of the engineering consultancy firm by the end of current fiscal.

Asked about the Cabinet Committee on Disinvestment’s (CCD) move to postpone decision on privatisation of HPCL and BPCL, he said, “The decision has been deferred. Disinvesment policy in the oil sector will be discussed and some decision will be taken after three months.”

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