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HPCL stake sale to ONGC: Panel led by FM Arun Jaitley to expedite deal

Pradhan reiterated that the integration of the two companies will be completed in the current FY

Reuters  |  New Delhi 

The Centre has decided to set up a panel headed by Finance Minister Arun Jaitley to expedite the sale of government's stake in refiner Hindustan Petroleum Corp (HPCL) to explorer Oil and Natural Gas Corp (ONGC), Oil Minister Dharmendra Pradhan said. The Union Cabinet last week decided to sell the government's 51.1 per cent stake in refiner and fuel retailer HPCL to oil producer ONGC. The panel "will help in taking quick decision with regard to the timing, price, terms and conditions and other related issues to the transaction," Pradhan told lawmakers in a ...

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First Published: Mon, July 24 2017. 13:24 IST