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Tuesday, November 16, 1999
Mankad mum on Gail pricing
ENS ECONOMIC BUREAU
MUMBAI, NOV 15: The Finance Ministry has virtually no answers for the cheap `sale' of Gas Authority of India Ltd (GAIL) shares. Union finance secretary Piyush Mankad today refused to speak on the ongoing controversy over the faulty pricing of the GAIL shares.Speaking to newspersons soon after attending a session of the US Investment Summit, Mankad said ``the Government of India does not have any comments to offer.'' The GDRs were sold at a discounted price of Rs 70 while the previous government had withdrawn the issue despite getting a higher price of Rs 120 citing low pricing. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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