Arun Jaitley to lead HPCL-ONGC merger panel
Written by : SMTV24x7 | Tue, Jul 25, 2017, 05:35 PM
New Delhi July 25: A committee will soon be formed.
Finance Minister Arun Jaitley will lead the panel to resolve issues related to HPCL-ONGC merger. Oil minister Dharmendra Pradhan yesterday has the informed above news in Lok Sabha.
He has also said that a panel formed will decide on the modalities of divesting 51.11% of government’s stake in state-run refiner Hindustan Petroleum Corp. Ltd (HPCL) to explorer Oil and Natural Gas Corp. (ONGC)
The cabinet on July 19 decided has approved the proposal.
Pradhan has said that the panel will look after the following issues such as
* Timing
* Price
* Terms and conditions
* Other related issues to the transaction.
Finally, he said that the transaction would be complete by the end of this financial year.