Winding up a two-day debate on PSU disinvestment, Mr Shourie said he had written to the Comptroller and Auditor General (CAG) to examine the disinvestment documents of his ministry to ensure that there was no doubt in the public mind on the procedures followed. The CAG has agreed to it, he disclosed.

Expressing his inability to disclose all informations before the bidding process, Mr Shourie said it was not possible to do so as it would harm the country's interests. The multinationals begin to gang up and cartelisation follows. As a result the country may not be able to get a good price, he added.

As for the Congress(I) demand for a separate parliamentary standing committee on disinvestment, Mr Shourie said it was the decision of the Speaker. In any case, he said, the parliamentary standing committee on finance oversees disinvestment too.

Denying that there were differences among the Cabinet ministers over disinvestment policy, Mr Shourie said all the concerned ministers were taken into complete confidence before taking any decision regarding their area.

Pointing towards the civil aviation minister Sharad Yadav and heavy industry minister Manohar Joshi in the House, Mr Shourie said they were part and parcel of the disinvestment process. Even in case of petroleum minister Ram Naik, he said, there were no differences. Mr Yadav, in fact, devised several formula for disinvestment of Air-India and Indian Airlines, Mr Shourie told the members many of whom charged there were "differences" among the ministers.

Regarding the use of the proceeds from PSU disinvestment, Mr Shourie said they would first be deposited with the consolidated fund of India. It was for the government to decide about their allocation on various heads thereafter. Several speakers, including Mr Mani Shanker Aiyar (Cong-I), Mr Rashid Alvi (BSP), Mr PH Pandian (AIADMK) and several others expressed apprehension that the proceeds would be utilised merely to bridge the fiscal deficit of the government. Mr Shourie admitted that valuation of PSUs was of utmost importance. In this connection, he assured members that his department's effort would be to get the best price after proper valuation.

He defended the valuation of Modern Foods on which several members had pointed accusing fingers towards the government.