Deputy Prime Minister L K Advani on Thursday termed as an "obstacle" the Supreme Court ruling halting the privatisation of oil firms Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation Ltd and said the government will "manoeuvre" it to keep the momentum of divestment programme.
"It is an obstacle. But a Supreme Court's judgment is not a weakness of the government. It is the law of the land and therefore you have to manoeuvre. You have to either circumvent it or find a way out," he told Karan Thapar's Hardtalk programme on BBC World to be telecast on Friday.
The Supreme Court had last month asked the government to seek approval of the Parliament for sale of its equity in HPCL and BPCL.
Emphasising that the apex court ruling was not an end to the divestment policy, he said "this government is committed to economic reform" and several options are being examined.
"Though there have been difficulties created but we are examining the judgment fully. And even after that (SC judgment) the first meeting of the Cabinet Committee on Divestment undertook several measures," he said.
Advani hoped to see major divestments in the remaining part of the fiscal. Asked if the revenue target of Rs 13,200 crore (Rs 132 billion) from divestment proceeds in 2003-04 would be met, he replied, "I hope so."
"I can't guarantee it certainly because after all what is the law of the land? The Supreme Court pronounces the law of the land. And therefore we are face to face with the Supreme Court judgment, which we have to find a solution for," he said.
