CPI(M) flays move to sell shares in oil companies

NEW DELHI JULY 26. The Communist Party of India (Marxist) today strongly objected to the reported move to sell shares in three `flagship' oil companies and charged that the Ministry of Disinvestment was acting outside the `Cabinet system.'

Addressing a press conference, the CPI(M) MPs, Somnath Chatterjee and Dipankar Mukherjee, said as per reports the Government was planning to sell its shares in Indian Oil Corporation, Gas Authority of India Limited and Oil and Natural Gas Commission to raise funds.

Mr. Mukherjee said these three companies have a surplus of over Rs.10,000 crore and wondered how the Ministry of Disinvestment could consider these companies without the Cabinet having taken a view on them

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