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  • Govt to auction five per cent of its share in ONGC

    Published on February 15, 2012

    The government has agreed in princple for auction of five per cent of its share in the Oil and Natural Gas Corporation (ONGC).

    The decision was taken by the empowered group of ministers (EGoM) on disinvestment headed by the Finance Minister, Pranab Mukherjee in New Delhi on Wednesday.

    The EGoM is now slated to take a decision in the next meeting on floor price for the auction which can fetch government about 12,000 crore rupees.

    Minister for petroleum and natural gas, S Jaipal Reddy said after the meeting, the government is considering auction route for ONGC disinvestment.

    Heavy industries and public enterprises Minister Praful Patel, who is also part of the Ministers’ panel, said, no decision on BHEL disinvestment has been taken. He said, it may happen next fiscal.


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