Search the Internet          Tips  Sites: Finance, Investment

Balco deal to be held up till March 1: Mahajan

The Union government Monday announced that transfer of shares of the disinvested public sector giant Balco would be held in abeyance till March 1 to enable Parliament to vet the Rs 5.51 billion deal.

This was announced in the Rajya Sabha by Parliamentary Affairs Minister Pramod Mahajan bringing the three-day acrimony over the issue in the House to an end.

Asserting that "we have nothing to hide" on the deal to transfer the company to private sector Sterlite group, Mahajan said the government was ready for a discussion on the issue and it was up to Chairman Krishan Kant to fix the debate for Monday or Tuesday.

Mahajan brushed aside Opposition charges that Prime Minister Atal Bihari Vajpayee had committed Parliamentary impropreity by seeking to defend the deal outside the House, asserting that the decision to dis-invest in the blue-chip PSU was taken by the Union cabinet.

"When the prime minister is asked by newsmen to comment on the deal cleared by cabinet, what do you expect him to do. He has to defend his cabinet's decision. Vajpayee has committed no impropreity," Mahajan said.

Earlier, raising the issue just after Question Hour, senior Congress member Pranab Mukerjhee wanted to know from the chair under what rule the discussion on the Balco deal would be taken up. He said Opposition members had given notices under Rules 169, 176 and 180.

RELATED REPORT
HC adjourns PILs challenging Balco divestment

Tell us what you think of this report