Government approves panel for oil PSUs revamp
By Our Corporate Bureau | 17 Jan 2005
New
Delhi: The government has approved the constitution
of an advisory panel to suggest restructuring of public
sector oil firms. The panel will hold its first meeting
on January 24, and has been given two months to submit
its report. The six-member advisory committee to consider
synergy in Energy will be headed by 'national advisory
council' member
V Krishnamurthy.
The
panel will explore options of merging two or more companies
to create oil behemoths. According to Mani Shankar Aiyar,
union minister for petroleum and natural gas, these
merged companies would have financial capabilities to
match Chinese firms in international arena.
The panel includes G K Arora, former 'disinvestment commission' chairman G. V. Ramakrishna, former advisor to finance minister, Vijay Kelkar, former ONGC chairman B. C. and former BPCL chairman U. Sunderajan.
