IOC, ONGC, GAIL to remain PSUs: Shourie

NEW DELHI: The government on Wednesday ruled out privatisation of Indian Oil, ONGC and GAIL and assured all security concerns would be taken care of while divesting oil PSUs BPCL and HPCL.
"The government has decided not to privatise IOC, ONGC and GAIL which will remain as public sector undertakings," Disinvestment Minister Arun Shourie told the Rajya Sabha winding up a short duration discussion on the subject.
Assuring that about 80 per cent of retail trade of oil will remain with the Government even after privatisation of HPCL and BPCL, Shourie said all necessary provisions were being incorporated in the shareholders agreement of the two Oil PSUs to ensure that national security concerns were fully addressed.