Balco shares transfer to wait till March 1 -- Mahajan

Balco shares transfer to wait till March 1 -- Mahajan
PRESS TRUST OF INDIA

NEW DELHI, MAR 26: The government today announced that transfer of shares of the disinvested public sector giant Balco would be held in abeyance till March one to enable parliament to vet the Rs. 551 crore deal.

This was announced in the Rajya Sabha by Parliamentary Affairs Minister Pramod Mahajan after three days of acrimony over the issue in the House.

An assertive Mahajan said, ``We have nothing to hide on the deal to transfer the company to private sector aluminium company, Sterlite Group.'' The government was ready for a discussion on the issue and it was upto chairman Krishan Kant to fix the debate for today or tomorrow, he added.

The minister brushed aside opposition charges that Prime Minister Atal Bihari Vajpayee had committed a parliamentary impropreity by seeking to defend the deal outside the house, asserting that the decision to disinvest in the bluechip PSU was a cabinet one.

Earlier, raising the issue just after the 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. Opposition members had given notices under rules 169, 176 and 180, he informed.