Parliamentary panel examining divestment of PSUs
The government said on Tuesday a Parliamentary committee is examining the objections raised by Comptroller and Auditor General of India on the disinvestment of nine PSUs between 1999-2003.
By TNN |
NEW DELHI: The government said on Tuesday a Parliamentary committee is examining the objections raised by Comptroller and Auditor General of India on the disinvestment of nine PSUs between 1999-2003.
The Public Accounts Committee is looking into the objections raised by CAG on disinvestment of nine PSUs, including Hotel Juhu Centaur and Hotel Airport Centuar, minister of state for finance SS Palanimanickam told Rajya Sabha in a written reply. The PAC selected this report for detailed examination during 2006-07, he said, adding further action would be taken after receiving the recommendations of the committee.
CAG, in its report tabled in Parliament last year, had observed that valuation of these properties were not consistent with the practice followed in other cases, he said.
In the light of the observation made by CAG, sale transactions of these hotels were referred to CBI for an enquiry in July 2005. The report of CBI was awaited, he added. In reply to another question, Mr Palanimanickam said, prior to the disinvestment of the government’s 51% stake in Balco, the company had term deposits of Rs 243 crore. Income of the company for the financial year ended March 2006 stood at Rs 1,860 crore from Rs 979 crore in March 2000, he said.
The Public Accounts Committee is looking into the objections raised by CAG on disinvestment of nine PSUs, including Hotel Juhu Centaur and Hotel Airport Centuar, minister of state for finance SS Palanimanickam told Rajya Sabha in a written reply. The PAC selected this report for detailed examination during 2006-07, he said, adding further action would be taken after receiving the recommendations of the committee.
CAG, in its report tabled in Parliament last year, had observed that valuation of these properties were not consistent with the practice followed in other cases, he said.
In the light of the observation made by CAG, sale transactions of these hotels were referred to CBI for an enquiry in July 2005. The report of CBI was awaited, he added. In reply to another question, Mr Palanimanickam said, prior to the disinvestment of the government’s 51% stake in Balco, the company had term deposits of Rs 243 crore. Income of the company for the financial year ended March 2006 stood at Rs 1,860 crore from Rs 979 crore in March 2000, he said.
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