(a) whether the Government propose to privatize the Hindustan Organic
Chemicals Limited; and
(b) if so, the details thereof and the reasons therefor?
(a) whether the Government propose to privatize the Hindustan Organic
Chemicals Limited; and
(b) if so, the details thereof and the reasons therefor?
THE MINISTER OF STATE IN THE MINISTRY OF CHEMICALS & FERTILIZERS (SHRI SATYA BRATA MOOKHERJEE)
(a) & (b): The Disinvestment Commission in its twelfth report had
classified the activities of Hindustan Organic Chemicals Limited(HOCL) as `non-
core` and had recommended part disinvestment of the Government of India holding
to a `strategic buyer`, retaining 26% with Government. The Cabinet Committee on
Disinvestment in its meeting held on July 19, 2000 had approved disinvestment of
32.61% out of the total Government equity in HOCL of 58.61% alongwith transfer of
management control to the `strategic buyer`. The disinvestment process is on.