Govt to go ahead with residual stake sale in PSUs

NEW DELHI: The government will go ahead with plans to sell its residual stakes in five firms in which it has already transferred management control, Disinvestment Minister Arun Shourie said on Tuesday.
A court order freezing the sales of two cash-rich oil refiners had cast doubts on the residual stake sales in software firm CMC Ltd, Videsh Sanchar Nigam Ltd, Indian Petrochemicals Ltd, oil retailer IBP and Bharat Aluminium Co. "Residual stake sales will go on," Shourie told reporters on the sidelines of a business conference.